2002 (8) TMI 90

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....erala State. During the relevant accounting year ending on December 12, 1973, the Income-tax Officer noticed that the assessee had debited an amount of Rs. 1,10,534 to the profit and loss account, being the value of 1,110 quintals of rice seized by the Civil Supplies Department. It was urged before the Income-tax Officer that the Government had auctioned the rice seized by the Civil Supplies Department and as such the loss arising on account of such seizure should be allowed as a deduction during the year of account. The Income-tax Officer disallowed the claim of the assessee on the ground that the assessee was not able to adduce any evidence in support of the value of the stock appropriated by the Government. The Appellate Assistant Commis....

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....10 quintals of rice from the premises of the assessee, viz., Kadakatla Rice Mill, Tadepalligudem. The matter fell for consideration before the Revenue Divisional Officer, who passed an order of confiscation. Then the matter was carried before the learned District Judge, who also confirmed the confiscation order. Thereafter it came up before the learned Division Bench of this court in a writ petition. The learned Division Bench of this court held that the confiscation order was invalid. Finally, the matter fell for consideration before the Supreme Court in appeal. The Supreme Court confirmed the order of confiscation while setting aside the order made by the learned Division Bench of this court. The resultant effect is that the order of conf....