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ITAT, Bangalore: Unascertained Business Loss Cannot be Allowed as Deduction - (09 Mar 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal, Bangalore has ruled that unless the recovery of embezzled amount in the course of business was impossible, it could not be claimed as a business loss. The Tribunal has ruled that an unascertained loss cannot be allowed as deduction from taxable income.

Tags : INCOME TAX APPELLATE TRIBUNAL   UNASCERTAINED BUSINESS LOSS  

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