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ITAT: Unascertained Liability Cannot be Allowed as Embezzlement Losses in Computing Business Income - (10 Mar 2022)

DIRECT TAXATION

Income Tax Appellate Tribunal (ITAT), Bangalore has held that the embezzlement loss stated by the assessee is not ascertained liability and hence cannot allow as loss in business income.

Tags : INCOME TAX APPELLATE TRIBUNAL   EMBEZZLEMENT LOSSES   BUSINESS INCOME  

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