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Court Allows Business Loss Deduction for Fire Incident Despite Previous Stock Shortage Claims by Assessee.

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....Disallowance of business loss - fire incident causing the loss - Revenue submitted that even in earlier AYs deductions have been claimed by the Assessee on account of shortage of stock for the varying amounts. The Court fails to see how this could be a factor that works against the Assessee. - Deduction allowed....

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Court Allows Business Loss Deduction for Fire Incident Despite Previous Stock Shortage Claims by Assessee.