https://www.taxtmi.com/caselaws?id=170470 The Tribunal partly allowed the appeal, directing the AO to allow the loss claimed due to misappropriation by the accountant and to recalculate the capital gain on the sale of the stock exchange membership card based on revised cost of acquisition and improvement. The disallowance of the loss was overturned as it was found to be allowable in the course of business, with a condition to tax any recovery from the insurance company in the relevant year. en-us Fri, 14 May 2010 00:00:00 +0530 Fri, 29 May 2015 14:39:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170470 The Tribunal partly allowed the appeal, directing the AO to allow the loss claimed due to misappropriation by the accountant and to recalculate the capital gain on the sale of the stock exchange membership card based on revised cost of acquisition and improvement. The disallowance of the loss was overturned as it was found to be allowable in the course of business, with a condition to tax any recovery from the insurance company in the relevant year. Case-Laws Income Tax Fri, 14 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170470