Supreme Court · 1977 INSC 212 · Decided 4 November 1977
Ramachander Shiv Narayan v. Commissioner of Income Tax, Andhra Pradesh, Hyderabad
- Court
- Supreme Court of India
- Citation
- 1977 INSC 212 · [1978] 1 S.C.R. 801
- Case number
- CIVIL APPEAL No. 1611/1972
- Decided
- 4 November 1977
- Bench
- N.L. UNTWALIA, D.A. DESAI (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 256(1)
Headnote
SHIV NARAYAN v. COMMISSIONER OF INCOME TAX, ANDHRA PRADESH, HYDERABAD November 4, 1977 [N. L. UNTWAL!l) AND D. A. DESAI, JJ.J 801 Allowable ldss-Loss of property or nioney by theft or dacoity, whether a trading loss and if pern1issible deduction in computation of his n>et income­ derives income from investment in Government securities. The assessee, during the assessment year 1964-65 corresponding to accounting year ended on October 16, 1963 returned; a.. loss of Rs. 5008/- from the business. The said figure \vas arrived at after claiming a loss of Rs. 30,000/- on
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