https://www.taxtmi.com/caselaws?id=64796 The Tribunal partially allowed the appeal, setting aside the CIT(A)'s decision on the embezzlement issue for further consideration and directing the AO to align with the Tribunal's rulings on other grounds. The appellant's claim for loss due to embezzlement was remanded for a fresh decision due to inconsistencies in the lower authorities' findings. The Tribunal upheld the disallowance of expenditure paid to terrorists for business preservation, while directing the AO to verify and allow the deduction for trading liability on an actual payment basis as per previous decisions. The Tribunal rejected the appellant's challenge to the levy of interest under Section 234(B) and directed the AO to grant any consequential relief applicable. en-us Mon, 28 Jul 1997 00:00:00 +0530 Wed, 09 Feb 2011 18:52:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64796 The Tribunal partially allowed the appeal, setting aside the CIT(A)'s decision on the embezzlement issue for further consideration and directing the AO to align with the Tribunal's rulings on other grounds. The appellant's claim for loss due to embezzlement was remanded for a fresh decision due to inconsistencies in the lower authorities' findings. The Tribunal upheld the disallowance of expenditure paid to terrorists for business preservation, while directing the AO to verify and allow the deduction for trading liability on an actual payment basis as per previous decisions. The Tribunal rejected the appellant's challenge to the levy of interest under Section 234(B) and directed the AO to grant any consequential relief applicable. Case-Laws Income Tax Mon, 28 Jul 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64796