Addition on account of gain on settlement of loan u/s 28(iv) or ...

Loan Waiver Not Taxable: Loan Not Used for Trading Liability, Sections 28(iv) or 41(1) Not Applicable.

June 2, 2017

Case Laws Income Tax AT

Addition on account of gain on settlement of loan u/s 28(iv) or 41(1) - the instant loan was not utilized for the trading liability of the assessee and therefore the waiver off the same cannot amount to income which is chargeable to tax - AT

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Addition on account of gain on settlement of loan u/s 28(iv) or ...

Loan Waiver Not Taxable: Loan Not Used for Trading Liability, Sections 28(iv) or 41(1) Not Applicable.

June 2, 2017

Case Laws Income Tax AT

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