Raj. HC: No Jurisdiction on DRT to Modify Settlement Terms in Appli. Filed after Disposal of Matter  ||  Kar. HC: Second Petition u/s 482 of CrPC Not Maintainable Unless Founded Upon Change in Circumstance  ||  Centre to Delhi HC: In Process of Framing Rules Under New Online Gaming Act  ||  Karnataka HC: Compelling DNA Tests without Imminent Need becomes Violative of Article 21  ||  SC: TET Qualification Mandatory for Teachers in Minority Institutions  ||  SC: Agreement to Sell Does Not Confer a Valid Title on a Party as it is Not a Deed of Conveyance  ||  SC Criticizes NGT for Outsourcing its Responsibilities to External Committees  ||  SC: No Culprit Should Manage an Acquittal on the Basis of Unreasonable Doubts  ||  Delhi High Court Dismisses Bail Pleas of Umar Khalid and Other Accused in 2020 Delhi Riots Case  ||  Supreme Court Judges Launch Schemes for Human -Wildlife Conflict    

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  

Share :        

Disclaimer | Copyright 2025 - All Rights Reserved