https://www.taxtmi.com/caselaws?id=28584 The High Court directed the Tribunal to re-examine whether the confiscation of seized gold constituted a business loss and should be allowed as a deduction under the Income Tax Act. The Court held that the Tribunal erred in denying the adjustment of the loss against the assessed income without determining the nature of the confiscation. The case was remanded back to the Tribunal for further consideration, with no costs awarded. en-us Tue, 10 Aug 1982 00:00:00 +0530 Tue, 23 Feb 2010 18:13:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28584 The High Court directed the Tribunal to re-examine whether the confiscation of seized gold constituted a business loss and should be allowed as a deduction under the Income Tax Act. The Court held that the Tribunal erred in denying the adjustment of the loss against the assessed income without determining the nature of the confiscation. The case was remanded back to the Tribunal for further consideration, with no costs awarded. Case-Laws Income Tax Tue, 10 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28584