1989 (8) TMI 38

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..... rt : "Whether, on the facts and in the circumstances of the case, the Tribunal was justified in holding that the assessee was entitled to the claim regarding embezzlement of cash even though the Tribunal itself had observed that the facts as narrated by the assessee did not inspire confidence ?" According to the respondent, a sum of Rs. 38,168 was embezzled by one of its employees from its bra .....

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..... . The assessee then filed an appeal to the Tribunal. The Tribunal, vide its order dated June 25, 1984, relied upon the Board's Circular dated November 24, 1965, and came to the conclusion that the aforesaid amount should be allowed as deduction. It may here be mentioned that the circular of the Board, inter alia, refers to two decisions of the Supreme Court in Badridas Daga v. CIT [1958] 34 ITR .....

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