9911796707
TMI Blog2012 (11) TMI 631X X X X Extracts X X X X X X X X Extracts X X X X ..... taking for the purpose of inclusion under Section 80-IA of the Act. Assessee is unable to produce the details regarding the fire accident and the policy before this Court to substantiate its contention, and there being no material to substantiate the contention of the assessee linking the loss to the fire accident, there is no justifiable ground to accept the order of the Tribunal which is not ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt for the assesment year 1996-97. The assessee subsequently made claim before the insurance company and admittedly, the same was compensated. The assessee claimed loss on production due to the fire accident that took place on 11.3.1996. The Assessing Officer rejected the claim of the assessee by pointing out that the claim with the insurance company and the subsequent loss of the profit in the su ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee was not represented either in person or through counsel. The Tribunal allowed the assessee's claim based on the decision of the Delhi Bench of the Tribunal rendered in the case of ROLLATAINERS LIMITED v. DCIT (69 TTJ 8), wherein it was held that the insurance claim received for goods damaged in transit had direct nexus with the industrial undertaking and hence, it was an allowable deduction ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent that had taken place to link it to the commercial activity to earn profit. Given the fact that the accident had taken place as early as 11.3.1996 and there being no material to link this accident and the nature of damage caused in the industrial activity and to the productivity of the company, rightly, the Assessing Officer held that there being no nexus between the claim before the insurance ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... related to the compensation received on the goods damaged while in transit. As far as the present case is concerned, even though we directed the assessee to produce the details regarding the fire accident and the policy, the assessee could not produce the same before this Court to substantiate its contention, and there being no material to substantiate the contention of the assessee linking the lo ..... X X X X Extracts X X X X X X X X Extracts X X X X
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