Cash embezzlement loss not allowable if not charged to P&L a/c

Avijit Dewanjee Vs DCIT (ITAT Bangalore) ITAT held that as the assessee has not ascertained the loss on account of embezzlement of cash in the books of account and it is shown as sundry debtors suspense account without charging it to the P&L account. At this stage, it is not possible to hold that it is ascertained liability to allow the loss as a deduction. At the time of hearing, the Bench put a specific query to the ld. AR whether loss on account of embezzlement of cash at Rs.2,24,36,701 was actually debited to the P&L account or not while making deduction in the return of income. Th...