https://www.taxtmi.com/caselaws?id=17853 The High Court upheld the Tribunal's decision to reject the claim for loss of stock-in-trade by the assessee. It was determined that the stock could not be considered lost until the criminal case regarding the seized sal seeds was resolved. The court emphasized that the status of the stock as a loss depended on the outcome of the criminal proceedings, and until a decision was made regarding the confiscated stock, it could not be treated as a deductible loss. Consequently, the Tribunal's decision in favor of the Revenue was deemed appropriate. en-us Fri, 22 Mar 1996 00:00:00 +0530 Fri, 25 Sep 2009 12:15:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17853 The High Court upheld the Tribunal's decision to reject the claim for loss of stock-in-trade by the assessee. It was determined that the stock could not be considered lost until the criminal case regarding the seized sal seeds was resolved. The court emphasized that the status of the stock as a loss depended on the outcome of the criminal proceedings, and until a decision was made regarding the confiscated stock, it could not be treated as a deductible loss. Consequently, the Tribunal's decision in favor of the Revenue was deemed appropriate. Case-Laws Income Tax Fri, 22 Mar 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17853