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of <h1>High Court confirms IT Tribunal ruling on embezzlement loss & TDS issue</h1> The High Court upheld the Income Tax Appellate Tribunal's decision to allow embezzlement loss of Rs. 2,81,38,206 in the assessment year 2011-12. The ... Disallowance of embezzlement loss which represented 70% of the total loss of the assessee - embezzlement by its employee - revenue appeal admitted. High Court GAUHATI HIGH COURT Citation: 2017 (8) TMI 1447 - GAUHATI HIGH COURT. Revenue appealed against Income Tax Appellate Tribunal's decision to allow embezzlement loss of Rs. 2,81,38,206 in assessment year 2011-12. Tribunal's decision upheld regarding disallowance under section 40(a)(ia) for failure to deduct tax at source on fees paid to IRCTC. Addition made by Assessing Officer on unexplained expenditure of Rs. 12,09,023 deleted by Tribunal based on facts.
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