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Losses due to Fraud of employees allowable despite no FIR
Case Law Details
- Case Name
- M/s. Pawan Specialities (P) Ltd. Vs The ACIT (ITAT Jaipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2011-12
- Courts
- All ITAT, ITAT Jaipur
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It is noted from the records that the assessee had claimed loss of goods (i.e. Tata Sky Vouchers / Coupon of the supplier company) by theft. However, in the assessment proceedings, the AO required the justification in this regard or also to produce the copy of the FIR for the legal action taken by the assessee which the assessee could not produced before the AO.
The AO for want of the evidence or justification as to the theft of the goods disallowed the claim of Rs. 4,77,500/- made by the assessee which has been confirmed by the ld. CIT(A) in first appeal. In the appellate proceedings, the ld....
