https://www.taxtmi.com/caselaws?id=71734 The Tribunal allowed the appeal of the assessee regarding the disallowed claim for loss due to defalcation by the canteen manager. The Tribunal emphasized the need for a detailed examination of when the assessee started suspecting the manager and when the exact amount of defalcation was determined. Highlighting the Board Circular allowing deduction for losses by embezzlement in the year of discovery, the Tribunal considered the partner's ill health as a factor enabling the manager's misconduct. The decision focused on applying legal principles and specific case facts, ultimately allowing the appeal based on the unique circumstances of the defalcation incident. en-us Mon, 10 Aug 1981 00:00:00 +0530 Tue, 26 Apr 2011 17:47:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71734 The Tribunal allowed the appeal of the assessee regarding the disallowed claim for loss due to defalcation by the canteen manager. The Tribunal emphasized the need for a detailed examination of when the assessee started suspecting the manager and when the exact amount of defalcation was determined. Highlighting the Board Circular allowing deduction for losses by embezzlement in the year of discovery, the Tribunal considered the partner's ill health as a factor enabling the manager's misconduct. The decision focused on applying legal principles and specific case facts, ultimately allowing the appeal based on the unique circumstances of the defalcation incident. Case-Laws Income Tax Mon, 10 Aug 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71734