2009 (11) TMI 41

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..... evidence to substantiate the same. It was also observed that the assessee was only a distributor and loss claimed was attributable to the principal. This view has been affirmed by the CIT(A) as well as the Tribunal. – held that - . Even for claiming loss, the assessee has to establish that loss was factually suffered. All the authorities have concurrently recorded a finding of fact that loss in qu .....

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..... retation of section 29 of the Act the soft drink bottles having leakage, breakage and of unserviceable nature is an allowable expense? 2. The assessee is engaged in trading and distribution of soft drinks and made a claim towards loss on account of leakage/breakage of bottles. The said claim was rejected by the Assessing Officer in absence of evidence to substantiate the same. It was also observ .....

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..... oft drinks. On this ground, the assessee fails." 3. We have heard learned counsel for the parties. 4. Learned counsel for the appellant submits that the assessee was entitled to deduction under section 29 of the Act in respect of loss suffered as loss was incidental to business. 5. We are unable to accept the submission. Even for claiming loss, the assessee has to establish that loss was .....

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