https://www.taxtmi.com/caselaws?id=24244 The High Court allowed the deduction of Rs. 2,04,006 as a trading loss for the assessment year 1968-69. The Court considered the deficiency in liquor purchase as directly related to the firm's business activities, making it an allowable trading loss. This decision aligned with a previous ruling where a similar deficiency was accepted as a trading loss. The Court ruled in favor of the assessee, directing each party to bear their own costs. en-us Tue, 18 Feb 1986 00:00:00 +0530 Mon, 18 Jan 2010 17:08:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24244 The High Court allowed the deduction of Rs. 2,04,006 as a trading loss for the assessment year 1968-69. The Court considered the deficiency in liquor purchase as directly related to the firm's business activities, making it an allowable trading loss. This decision aligned with a previous ruling where a similar deficiency was accepted as a trading loss. The Court ruled in favor of the assessee, directing each party to bear their own costs. Case-Laws Income Tax Tue, 18 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24244