https://www.taxtmi.com/caselaws?id=800235 Embezzlement and misappropriation losses suffered by a charitable institution are allowable where special-audit findings and a first information report substantiate fabricated records, unauthorised use of fixed deposits, and diversion of funds or blood stock. The material consideration is the institution's conduct and evidence establishing the embezzlement, rather than the eventual result of criminal proceedings. Losses caused by persons managing the institution are treated as absolute and irrecoverable on the established facts, and cannot be characterised as benefits extended to specified persons. en-us Fri, 25 Sep 2026 00:00:00 +0530 Sat, 03 Oct 2026 09:32:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800235 Embezzlement and misappropriation losses suffered by a charitable institution are allowable where special-audit findings and a first information report substantiate fabricated records, unauthorised use of fixed deposits, and diversion of funds or blood stock. The material consideration is the institution's conduct and evidence establishing the embezzlement, rather than the eventual result of criminal proceedings. Losses caused by persons managing the institution are treated as absolute and irrecoverable on the established facts, and cannot be characterised as benefits extended to specified persons. Case-Laws Income Tax Fri, 25 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800235