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2013 (5) TMI 51 - HC - Income TaxSystem of accounting - as per AO bad and doubtful debts provisions are not allowable - additions made to the total income of the assessee - Held that:- C.I.T.(A) and the I.T.A.T. accepted the method of accounting of the assessee and & relying on CIT Versus Vasisth Chay Vyapar Ltd. & others [2010 (11) TMI 88 - Delhi High Court] which was in accordance with the Instruction No.9949 of the Reserve Bank of India and therefore, addition was deleted. no question of law is involved. Loss due to embezzlement by an employee - whether treated as accidental to the business - Held that:- I.T.A.T. after relying upon the judgment of Dinesh Mills Ltd. Vs. C.I.T. (2001 (12) TMI 65 - GUJARAT High Court) and Harijan Evam Nirbal Varg Avas Vs C.I.T. reported in (1995 (12) TMI 2 - ALLAHABAD High Court) observed that the loss on account of theft be treated as business loss - no interference reuired - No question of law is involved.
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