TMI BlogCessation of liability to repay the loan taken was not for the purpose of purchase of capital asset and...Cessation of liability to repay the loan taken was not for the purpose of purchase of capital asset and therefore, the liability to repay the loan was taxable u/s 41(1) in the hands of the assessee - AT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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