Addition u/s. 28(iv) - waiver of loan - value of benefit arising ...

Income Tax

November 22, 2022

Addition u/s. 28(iv) - waiver of loan - value of benefit arising from business of the assessee - the assessee has received loan from certain parties for the purpose of using it in the business of lending of money. The lenders are not the customers of the assessee. There should not be any dispute that the loan transaction is a capital account trasaction. Hence waiver of loan cannot take the colour of trading transactions - No additions - AT

View Source

← Previous Next →

Addition u/s. 28(iv) - waiver of loan - value of benefit arising ...

Income Tax

November 22, 2022

You may also like:

Additions of benefits or perquisites received as business income - waiver of loan u/s 28(iv) - the assessee had purchased the equipment, for which assessee had not paid....

Addition u/s 28(iv) or 43(1) - Receipt of Special Redistributors' Incentive - The amount of incentive received by the assessee from M/s. Usha International Ltd....

Addition for the Term Loan taken waiver of secured loan - when the assessee had not claimed deduction under Section 36(1)(iii) of the Act for interest on loan and loan...

Addition u/s. 28(iv) - waiver of the outstanding principal amount of loan - amount used for the purchase of capital asset, the waiver thereof is a capital receipt not...

Taxing of the fair market value of the properties owned by AJL u/s 28(iv) - whether the provisions of section 56(2)(viia) is applicable specifically dealing with the...

Additions u/s 28(iv) - Business perquisite - ECB loan as received from the holding company by the assessee in convertible foreign exchange for the purpose of acquiring...

Taxing the allotment of shares by VISA Inc. by invoking Section 28(iv) - bringing notional share price to tax - the word used in Section 28(iv) of the Act are ‘arisen...

Income taxable u/s 28(iv) - additions as 'benefit' by waiver of loans - As per the decision of Apex Court, the purpose of loan was neither dealt with nor would be a...

Income from waiver of loan - income changeable to tax or not? - brought to tax under section 28(iv) of the Act or under section 41(1) - it is clear that in the case...

Additions u/s 41 (deemed incomed) - waiver of loan - Floating Rate Notes - To be treated as loan for business purpose or for purchase of capital asset - AO has mentioned...

Characterization of income - cash receipt due to waiver of loan by the state government - whether in the nature of subsidy - to be treated as benefit / perquisite u/s...

Cessation of loan liability - Addition u/s 28 - at no point of time before the authorities under the Act, was it the Revenue’s case that the waiver of loan should be...

Waiver of capital loan under OTS is not taxable as revenue receipt u/s 28

Business perquisite - the perquisites of business are taxable under clause (iv) of Section 28 of the Act, which contemplates that the value of any benefit or perquisite - HC

Taxability of Waiver of loan - loan advanced for acquisition of capital equipments - Revenue's first contention that the loan waived was availed towards working capital...

Quick Updates: