https://www.taxtmi.com/caselaws?id=273429 The Tribunal upheld the CIT(A)'s decision in the case. The expenses related to animal breeding and cooperative development were treated as revenue expenses, following a precedent, and allowed under Section 37 of the Income Tax Act. However, the claimed loss due to misappropriation of milk sale proceeds was disallowed as it had not crystallized, with the assessee failing to provide sufficient evidence and not taking legal action against the employees. The Tribunal dismissed all appeals, affirming the decisions of the CIT(A). en-us Fri, 13 Apr 2018 00:00:00 +0530 Mon, 25 Jun 2018 18:30:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273429 The Tribunal upheld the CIT(A)'s decision in the case. The expenses related to animal breeding and cooperative development were treated as revenue expenses, following a precedent, and allowed under Section 37 of the Income Tax Act. However, the claimed loss due to misappropriation of milk sale proceeds was disallowed as it had not crystallized, with the assessee failing to provide sufficient evidence and not taking legal action against the employees. The Tribunal dismissed all appeals, affirming the decisions of the CIT(A). Case-Laws Income Tax Fri, 13 Apr 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273429