https://www.taxtmi.com/caselaws?id=22354 The High Court upheld the decision of the Appellate Tribunal to disallow the claimed loss of Rs. 1,25,000 for the assessment year 1972-73. The Court ruled in favor of the Revenue, stating that the Tribunal's decision was justified. The case involved the assesses failing to prove permanent loss of seized goods during the relevant accounting period, leading to the inclusion of the amount as income. The judgment will be forwarded to the Income-tax Appellate Tribunal for further action. en-us Thu, 21 Mar 1991 00:00:00 +0530 Wed, 09 Dec 2009 14:08:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22354 The High Court upheld the decision of the Appellate Tribunal to disallow the claimed loss of Rs. 1,25,000 for the assessment year 1972-73. The Court ruled in favor of the Revenue, stating that the Tribunal's decision was justified. The case involved the assesses failing to prove permanent loss of seized goods during the relevant accounting period, leading to the inclusion of the amount as income. The judgment will be forwarded to the Income-tax Appellate Tribunal for further action. Case-Laws Income Tax Thu, 21 Mar 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22354