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profits & gains of business & profession

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(Querist)
27 November 2009 while computing income under the head PGBP we fully allow loss due to dacoity or theft..!
what is the logic behind it..?
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Rahul Vora

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Rahul Vora (Expert)
28 November 2009 The logic behind the same is that dacoity or theft is part and parcel of business. It can happen in a normal course of business. One can take precautions but cannot fully avoid theft or dacoity in normal course of business.
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Punit Tibrewal

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Punit Tibrewal (Querist)
28 November 2009 but a business man may show fake loss due to theft and decrease his profits..!

what should be done by IT dept in this case..?
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Punit Tibrewal

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Punit Tibrewal (Querist)
28 November 2009 plz reply

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