Loss Incurred by Embezzlement is an Admissible Deduction: ITAT allows Appeal [Read Order]

By Sunayana Dhal - On June 28, 2023 1:00 pm - 2 mins read
ITAT- Loss -Loss Incurred by Embezzlement- Admissible Deduction- ITAT allows Appeal-Embezzlement-income tax-taxscan

The Chandigarh bench of the Income Tax Appellate Tribunal (ITAT) held that the loss incurred by embezzlement is an admissible deduction. The Assessee, Gurudwara Godri Sahib Baba Farid Society is a registered under the Societies Registration Act, 1860 and is also registered under Section 12AA of the Income Tax Act, 1961. The main object of…

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