https://www.taxtmi.com/caselaws?id=49355 Cash held by a banking company in the ordinary course of business forms part of its circulating capital and stock-in-trade, so a loss is deductible where it arises in carrying on the business and is incidental to banking operations. Ready cash retained at branch premises is an integral feature of banking, and the ordinary risks attached to that retention include theft, dacoity, embezzlement and destruction. On that basis, loss of cash caused by dacoity had a direct nexus with the banking business and was treated as a deductible trading loss under section 10(1) of the Indian Income-tax Act, 1922. en-us Fri, 25 Sep 1964 00:00:00 +0530 Fri, 22 Aug 2014 11:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49355 Cash held by a banking company in the ordinary course of business forms part of its circulating capital and stock-in-trade, so a loss is deductible where it arises in carrying on the business and is incidental to banking operations. Ready cash retained at branch premises is an integral feature of banking, and the ordinary risks attached to that retention include theft, dacoity, embezzlement and destruction. On that basis, loss of cash caused by dacoity had a direct nexus with the banking business and was treated as a deductible trading loss under section 10(1) of the Indian Income-tax Act, 1922. Case-Laws Income Tax Fri, 25 Sep 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49355