https://www.taxtmi.com/caselaws?id=392595 The Tribunal allowed the appeal of the assessee, recognizing losses due to fraud and embezzlement, loss on fixed deposits, and legal expenses as allowable business expenses. The judgment emphasized the practical and commercial context of the losses, aligning with established legal principles and precedents. The Tribunal concluded that the losses claimed were genuine, incurred in the course of business, and should be allowed as deductions, setting aside the order of the Ld. CIT(Appeals) and granting the claimed deductions for the losses. en-us Thu, 20 Feb 2020 00:00:00 +0530 Mon, 24 Feb 2020 09:54:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=392595 The Tribunal allowed the appeal of the assessee, recognizing losses due to fraud and embezzlement, loss on fixed deposits, and legal expenses as allowable business expenses. The judgment emphasized the practical and commercial context of the losses, aligning with established legal principles and precedents. The Tribunal concluded that the losses claimed were genuine, incurred in the course of business, and should be allowed as deductions, setting aside the order of the Ld. CIT(Appeals) and granting the claimed deductions for the losses. Case-Laws Income Tax Thu, 20 Feb 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=392595