https://www.taxtmi.com/caselaws?id=60904 The appeal involved a dispute over the disallowance of a loss claimed by an individual running a jewelry shop due to the robbery of stock-in-trade and cash. The Tribunal allowed the loss related to diamonds as a business loss but disallowed the loss of cash, directing the Assessing Officer to determine the exact quantification of the loss. The decision was based on the finding that the loss of diamonds had a direct nexus to the business operation, while the loss of cash was not considered part of the stock-in-trade. The appeal was partly allowed, with further examination required on the quantification of the loss. en-us Thu, 23 Mar 1995 00:00:00 +0530 Sat, 08 Jan 2011 15:01:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60904 The appeal involved a dispute over the disallowance of a loss claimed by an individual running a jewelry shop due to the robbery of stock-in-trade and cash. The Tribunal allowed the loss related to diamonds as a business loss but disallowed the loss of cash, directing the Assessing Officer to determine the exact quantification of the loss. The decision was based on the finding that the loss of diamonds had a direct nexus to the business operation, while the loss of cash was not considered part of the stock-in-trade. The appeal was partly allowed, with further examination required on the quantification of the loss. Case-Laws Income Tax Thu, 23 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60904