https://www.taxtmi.com/caselaws?id=13735 The Tribunal allowed the claimed loss of Rs. 1,48,950 due to goods destroyed by fire in the assessment year 1978-79, stating the assessee was entitled to claim the loss in the relevant assessment year based on accounting principles and legal grounds. The Commissioner of Income-tax (Appeals) decision was upheld, and the Tribunal found no justification for not writing off the destroyed stocks and not claiming the loss earlier. The Tribunal's decision was considered final, and the reference was returned unanswered. en-us Tue, 15 Feb 2005 00:00:00 +0530 Thu, 02 Jul 2009 10:45:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13735 The Tribunal allowed the claimed loss of Rs. 1,48,950 due to goods destroyed by fire in the assessment year 1978-79, stating the assessee was entitled to claim the loss in the relevant assessment year based on accounting principles and legal grounds. The Commissioner of Income-tax (Appeals) decision was upheld, and the Tribunal found no justification for not writing off the destroyed stocks and not claiming the loss earlier. The Tribunal's decision was considered final, and the reference was returned unanswered. Case-Laws Income Tax Tue, 15 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13735