https://www.taxtmi.com/caselaws?id=28841 The High Court ruled in favor of the assessee, determining that the loss of Rs. 10,025 resulting from an employee's embezzlement was a trading loss incidental to the business. The Court relied on legal precedents, including the Supreme Court's decision in Badridas Daga case, to support its decision. The Court highlighted the customary practice of sending employees with cash for business purposes and the prompt action taken by the assessee in lodging a police report. The assessee was awarded costs and a hearing fee in accordance with the judgment. en-us Thu, 07 Apr 1983 00:00:00 +0530 Fri, 26 Feb 2010 12:38:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28841 The High Court ruled in favor of the assessee, determining that the loss of Rs. 10,025 resulting from an employee's embezzlement was a trading loss incidental to the business. The Court relied on legal precedents, including the Supreme Court's decision in Badridas Daga case, to support its decision. The Court highlighted the customary practice of sending employees with cash for business purposes and the prompt action taken by the assessee in lodging a police report. The assessee was awarded costs and a hearing fee in accordance with the judgment. Case-Laws Income Tax Thu, 07 Apr 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28841