Assessee is engaged in business of gold.  Assessing Officer disallowed the claim of loss with respect to robbery pertained to previous assessment year.The  robbery loss was not debited to trading account in year ended 31-3-2014, as at initial stage robbers/conspirators were apprehended and there was hope for recovery. Subsequently, assessee lost his hope and debited loss in profit and loss account for year ended 31-3-2015. The AO disallowed the loss. CIT(A) partly allowed the loss. On appeal the Tribunal held that  loss due to embezzlement, theft, etc., is  allowable deduction, if it could be proved to have arisen, out of carrying on of business and same must be incidental to it. Loss is directed to be allowed.(AY. 2015-16)