https://www.taxtmi.com/caselaws?id=332697 The Tribunal allowed the assessee's appeal and dismissed the Revenue's appeal. The Tribunal directed the Assessing Officer to treat the embezzled cash as a business loss, overturning the disallowance. The addition of excess stock was deleted based on the correct profit ratio, showing no excess stock warranting the addition. The addition on account of the fall in gross profit rate was deleted, considering the excess stock in the profit margin calculation. en-us Thu, 11 Aug 2016 00:00:00 +0530 Fri, 23 Sep 2016 12:22:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332697 The Tribunal allowed the assessee's appeal and dismissed the Revenue's appeal. The Tribunal directed the Assessing Officer to treat the embezzled cash as a business loss, overturning the disallowance. The addition of excess stock was deleted based on the correct profit ratio, showing no excess stock warranting the addition. The addition on account of the fall in gross profit rate was deleted, considering the excess stock in the profit margin calculation. Case-Laws Income Tax Thu, 11 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332697