https://www.taxtmi.com/caselaws?id=433638 The appeal was allowed for statistical purposes regarding the disallowance of a loss incurred due to illegal siphoning of funds by the Finance Director. The CIT(A) partially allowed the claim, with the Tribunal directing the AO to verify recovery and allow the balance of the loss. The Tribunal held that the CIT(A) exceeded jurisdiction by issuing directions for past assessment years without notice to the assessee, and also found discrepancies in the recovery of embezzlement loss, directing factual verification and allowing the balance of the loss. en-us Fri, 06 Jan 2023 00:00:00 +0530 Mon, 06 Feb 2023 09:15:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433638 The appeal was allowed for statistical purposes regarding the disallowance of a loss incurred due to illegal siphoning of funds by the Finance Director. The CIT(A) partially allowed the claim, with the Tribunal directing the AO to verify recovery and allow the balance of the loss. The Tribunal held that the CIT(A) exceeded jurisdiction by issuing directions for past assessment years without notice to the assessee, and also found discrepancies in the recovery of embezzlement loss, directing factual verification and allowing the balance of the loss. Case-Laws Income Tax Fri, 06 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433638