TMI BlogAllowability of business loss - the embezzlement by one of the Directors/employee during the ordinary...Allowability of business loss - the embezzlement by one of the Directors/employee during the ordinary course of business is a pilferage of the company funds can be a business loss, irrespective of criminal prosecution of the accused director/employee - subsequent recovery if, any, would not determine the claim of the Assessee in the present year writing off the same as a business loss ..... X X X X Extracts X X X X X X X X Extracts X X X X
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