September 2019

Section 37 of ITA 1961 – Business loss –Embezzlement of cash by director of assessee – Recovery of amount or outcome of pending criminal prosecution against director before Magistrate Court – Not relevant – Deduction allowable

K.B.Bhujle
Advocate

39.  Principal CIT vs. Saravana Selvarathnam Trading and Manufacturing Pvt. Ltd.; [2019] 415 ITR 146 (Mad.) Date of order: 14th March, 2019; A.Y.: 2012-13

 

Section 37 of ITA 1961 – Business loss –Embezzlement of cash by director of assessee – Recovery of amount or outcome of pending criminal prosecution against director before Magistrate Court – Not relevant – Deduction allowable

 

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