Addition on account of remission of loan - Section 41(1) of the ...

Loan Waiver Not a Trading Liability Cessation u/s 41(1) of Income Tax Act; No Deduction Claimed u/s 36(1)(iii).

January 31, 2020

Case Laws Income Tax HC

Addition on account of remission of loan - Section 41(1) of the IT Act does not apply since waiver of loan does not amount to cessation of trading liability. It is a matter of record that the Respondent has not claimed any deduction under Section 36(1)(iii)

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Addition on account of remission of loan - Section 41(1) of the ...

Loan Waiver Not a Trading Liability Cessation u/s 41(1) of Income Tax Act; No Deduction Claimed u/s 36(1)(iii).

January 31, 2020

Case Laws Income Tax HC

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