Embezzlement of Cash
This query is : Resolved
03 March 2009
In a pvt. ltd. co. during the year 08 - 09 Rs. 80000/- Cash received from Party was stolen , out of building premises.FIR files in local police station. so this exp. allowed in enpenditure or not.
03 March 2009
Loss on account of embezzlement, in the previous year in which embezzlement is discovered is an allowable deduction.
03 March 2009
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https://www.caclubindia.com/experts/experts_message_display.asp?group_id=124426
https://www.caclubindia.com/experts/experts_message_display.asp?group_id=124426
03 March 2009
It is allowed.
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