https://www.taxtmi.com/caselaws?id=49355 Whether loss of cash by dacoity is a trading loss under section 10(1) was decided by treating cash held in branch premises as the bank's stock-in-trade; retention of ready cash is integral to banking operations. The Court applied the principle that a loss is deductible only if it arises out of and is incidental to the carrying on of business, and held that losses of stock-in-trade sustained in the course of business (including robbery or dacoity) meet that test. Outcome: the cash loss by dacoity was incidental to banking and deductible, and the appeal was dismissed. 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 Whether loss of cash by dacoity is a trading loss under section 10(1) was decided by treating cash held in branch premises as the bank's stock-in-trade; retention of ready cash is integral to banking operations. The Court applied the principle that a loss is deductible only if it arises out of and is incidental to the carrying on of business, and held that losses of stock-in-trade sustained in the course of business (including robbery or dacoity) meet that test. Outcome: the cash loss by dacoity was incidental to banking and deductible, and the appeal was dismissed. Case-Laws Income Tax Fri, 25 Sep 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49355