https://www.taxtmi.com/caselaws?id=60992 The Tribunal upheld the disallowance of the embezzlement loss, ruling it as misappropriation of trade receivables rather than embezzlement. However, the disallowance of interest on debit balances of partners was partially allowed, with the case remanded for reconsideration based on net debit balances of all partners. en-us Sat, 17 Apr 1982 00:00:00 +0530 Mon, 10 Jan 2011 12:47:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60992 The Tribunal upheld the disallowance of the embezzlement loss, ruling it as misappropriation of trade receivables rather than embezzlement. However, the disallowance of interest on debit balances of partners was partially allowed, with the case remanded for reconsideration based on net debit balances of all partners. Case-Laws Income Tax Sat, 17 Apr 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60992