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2015 (12) TMI 1072 - HC - Income TaxDisallowance of business loss claimed u/s 41(1) - damaged stock of paddy - disallowance based on auditors note/ certificate - Held that:- The matter is required to be remanded keeping in view the facts urged by the assessee that certain amount out of the damaged stock of paddy of ₹ 5.08 crores was received by the assessee in the financial year 1997-98 relating to the assessment years 1998-99 onwards upto assessment year 2003-04 and that the amount so received was taxed in the year of receipt - Decided in favour of assessee by way of remand.
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