Direct tax related question.....reply plz

Going through below link will put an end to your query.

https://articles.economictimes.indiatimes.com/2006-12-10/news/27436478_1_heroin-illegal-manufacturing-trade

Yes Rahul. As per my opinion ur statement is correct and can be setoff against any other business loss. My this decision is based on Apex Court's decision in the case of T.A. Qureshi. In this case it was held that the loss of herione is a business loss and can be climed as deduction. Hope I answer the question.

Thanks

Thanks both of u.

My query is resolved...........

Yes, U r correct Shabir Ji........