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2012 (6) TMI 508 - HC - Income TaxClaim of loss of stock in trade - allowed by Tribunal - Held that:- Following the view taken in T.A. Quereshi (Dr.) v. Commissioner of Income Tax [2006 (12) TMI 91 (SC)] that if the stock in trade was seized and confiscated, it has to be allowed as a business loss the Tribunal held that the confiscation of the pharmaceutical drugs exported by the assessee must be treated as a loss of stock in trade - no substantial question of law arises for consideration
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