https://www.taxtmi.com/caselaws?id=57067 The Tribunal upheld the CIT(A)'s decision, allowing the deduction of losses on revaluation of securities, affirming these as stock-in-trade for the banking company. For embezzlement losses, the Tribunal partially allowed the deductions for 1983-84 and remanded the 1984-85 issue for further verification by the AO. Appeals for 1983-84 and 1984-85 were partly allowed, while those for 1982-83, 1985-86, 1991-92, and 1988-89 were dismissed. en-us Wed, 09 Mar 2005 00:00:00 +0530 Mon, 03 Jun 2024 14:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57067 The Tribunal upheld the CIT(A)'s decision, allowing the deduction of losses on revaluation of securities, affirming these as stock-in-trade for the banking company. For embezzlement losses, the Tribunal partially allowed the deductions for 1983-84 and remanded the 1984-85 issue for further verification by the AO. Appeals for 1983-84 and 1984-85 were partly allowed, while those for 1982-83, 1985-86, 1991-92, and 1988-89 were dismissed. Case-Laws Income Tax Wed, 09 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57067