P&H High Court: Re-Investigation Cannot Nullify Existing Acquittal Despite Breach of Stay Order  ||  Gujarat HC: Illegal Mining Vehicle Complaints Must Be Filed Before Sessions Court, Not Magistrate  ||  Delhi High Court Lays Down Registry Directions for Dealing with Insufficiently Stamped Arbitral Award  ||  Delhi High Court: Victims Need No Leave to Appeal Acquittal or Conviction for Lesser Offence  ||  SC: Limitation Act Inapplicable to Revisions under Karnataka Land Revenue Act  ||  SC: Banks Can Invoke SARFAESI for Loans Acquired from NBFCs Outside the Act  ||  SC: Gujarat Prohibition Act Does not Bar Interim Seized Vehicle Release  ||  Supreme Court Quashes Rs. 425-Crore Customs Penalty Based on AI-Generated Fake Case Laws  ||  SC: Guilt cannot be Presumed Solely Due to Collusion Allegations against Investigating Officer  ||  SC: Clarificatory Statement Does Not Constitute a Binding Undertaking for Contempt Proceedings    

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 2026 - All Rights Reserved