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Income Tax - Highlights / Catch Notes

Home Highlights March 2014 Year 2014 This

Disallowance of expenditure - loss by embezzlement by employees ...


Employee Embezzlement Losses Are Incidental to Business Operations and Deductible When Discovered.

March 25, 2014

Case Laws     Income Tax     AT

Disallowance of expenditure - loss by embezzlement by employees should be treated as incidental to business and the same should be allowed as deduction in the year in which it is discovered - AT

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