https://www.taxtmi.com/caselaws?id=286358 Loss caused by a cashier's embezzlement in the course of a money-lending business was treated as a trading loss where the misappropriation arose directly from the business and was incidental to it under ordinary commercial principles. The court noted that employing a cashier and entrusting cash to him were normal incidents of such business, and the loss was sustained in the year of account. The amount was therefore deductible in computing business income, and the question was answered in favour of the assessee. en-us Tue, 09 Aug 1960 00:00:00 +0530 Sat, 22 Feb 2020 12:51:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=286358 Loss caused by a cashier's embezzlement in the course of a money-lending business was treated as a trading loss where the misappropriation arose directly from the business and was incidental to it under ordinary commercial principles. The court noted that employing a cashier and entrusting cash to him were normal incidents of such business, and the loss was sustained in the year of account. The amount was therefore deductible in computing business income, and the question was answered in favour of the assessee. Case-Laws Income Tax Tue, 09 Aug 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=286358