وهلاك المبيع يمنع منها
Translation: The destruction of the sold item prevents iqalah.
Iqalah restores the very identified subject of the first sale. If that item has been wholly destroyed, the original exchange cannot simply be restored.
Example:
1. A buyer purchased an identified bicycle for Rs 30,000.
2. The bicycle was completely destroyed and cannot be returned.
3. That sale cannot be undone through ordinary iqalah of the now-nonexistent item.
This statement does not resolve every other possible liability or independent transaction.