https://www.taxtmi.com/caselaws?id=424616 The Tribunal allowed the appeal, permitting the deduction of the embezzlement loss in the relevant assessment year 2008-09. The assessee's claim for the write-off of the embezzled amount was upheld as it was deemed that the loss occurred when it was realized that recovery was not possible, despite the embezzlement being discovered earlier. The embezzlement loss was held to be deductible in the assessment year 2008-09. en-us Thu, 30 Jun 2022 00:00:00 +0530 Tue, 05 Jul 2022 08:16:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=424616 The Tribunal allowed the appeal, permitting the deduction of the embezzlement loss in the relevant assessment year 2008-09. The assessee's claim for the write-off of the embezzled amount was upheld as it was deemed that the loss occurred when it was realized that recovery was not possible, despite the embezzlement being discovered earlier. The embezzlement loss was held to be deductible in the assessment year 2008-09. Case-Laws Income Tax Thu, 30 Jun 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=424616