Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2011 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2011 (5) TMI 206 - CALCUTTA HIGH COURTDeduction - Theft - Shortfall in the quantity of raw materials - Whether the Tribunal was justified in holding that the assessee was not entitled to deduction in respect of the sum incurred by it for making good the shortfall in the materials required to be returned to customer - There was no justification for the Tribunal to disbelieve the allegation of theft from the materials on record - Gone through the records and are of the opinion, that no contrary materials have been placed to justify the finding that the allegation of theft was a concocted one - There is no finding either of the Police or of the Insurance Company brought on record to disbelieve the allegation of theft - The fact that the police could not recover the goods or that the guilty persons were not punished cannot go against the claim of the assessee because for the in ability of the police to recover the stolen goods or to find out the culprit, the assessee cannot suffer - It is not a case where the report of the police is that the allegation of theft is baseless - therefore, set aside the finding of the Tribunal - Decided in favor of the assessee
|