ITAT, Bangalore: Unascertained Business Loss Cannot be Allowed as Deduction - 09.03.2022

Income Tax Appellate Tribunal, Bangalore has ruled that unless the recovery of embezzled amount in the course of business was impossible, it could not be claimed as a business loss. The Tribunal has ruled that an unascertained loss cannot be allowed as deduction from taxable income.

Tags : Income Tax Appellate Tribunal Unascertained Business Loss

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