https://www.taxtmi.com/caselaws?id=15459 The High Court of Kerala ruled in a case concerning the deductibility of a defalcated amount by an employee. The Court held that the loss was incidental to the business and directly connected to business operations, overturning the Tribunal's decision. The defalcation occurred during the course of the business, and the lack of authorization by the employee did not negate the trading loss classification. The Court found in favor of the assessee, resolving the reference in their favor. en-us Wed, 10 Nov 1999 00:00:00 +0530 Thu, 06 Aug 2009 17:00:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15459 The High Court of Kerala ruled in a case concerning the deductibility of a defalcated amount by an employee. The Court held that the loss was incidental to the business and directly connected to business operations, overturning the Tribunal's decision. The defalcation occurred during the course of the business, and the lack of authorization by the employee did not negate the trading loss classification. The Court found in favor of the assessee, resolving the reference in their favor. Case-Laws Income Tax Wed, 10 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15459