Register Price / Packages DEMO Option My Bookmarks Daily Newsletters Feedback/ Suggestions
Tax Management India. Com
Law and Practice  :  Digital eBook
Research is most exciting & rewarding


Case Laws Acts Notifications Circulars Classification Forms Manuals Articles News D. Forum Highlights Notes
TMI - e-Newsletter     TaxTMI    Levy of GST - Royalty- seigniorage fee paid by the...     TaxTMI    Levy of Penalty u/s 129(3) of the Central Goods and...     TaxTMI    Levy of penalty - goods were undervalued - The High...     TaxTMI    Cancellation of GST Registration - Legal Validity...     TaxTMI    Control of income-tax authorities - U/s 118 -...     TaxTMI    Foreign Exchange Management (Foreign Currency...     TaxTMI    Amendment to Regulation 3.1 of FEMA, Mode of...     TaxTMI    Amendment to Regulation 4 of FEMA, Mode of Payment...     TaxTMI    Securities and Exchange Board of India (Investment...     TaxTMI    Securities and Exchange Board of India (Research...     TaxTMI    Taxation on gains arising out of compulsory...     TaxTMI    LTCG - year of assessment - The Tribunal noted...     TaxTMI    Penalty u/s. 270A - Under-reporting of income /...     TaxTMI    Exemption u/s 11 - assessee has not e-filed or not...     TaxTMI    Scope of SCN - impugned order proceeds on a...     TaxTMI    Latest Case-Laws     TaxTMI    Latest Notifications + Circulars     TaxTMI    GST Council Decisions     TaxTMI       Right Stop
  TMI - Tax Management India. Com
Follow us:
  Facebook   Twitter   Linkedin   Telegram
Income Tax - Highlights / Catch Notes

Home Highlights September 2012 Year 2012 This

Taxation on cessation of liability to repay a loan - the ...

Income Tax

September 17, 2012

Taxation on cessation of liability to repay a loan - the cessation of liability to repay a loan taken to purchase a capital asset does not result in a revenue receipt. - no addition u/s 41(1) - HC

View Source

 

← Previous Next →

 

You may also like:

  1. Addition u/s 41(1) - amount waived by TamilNad Mercantile Bank Limited representing Term Loan - waiver of loan does not amount to cessation of trading liability - No additions.

  2. 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)...

  3. Addition on account of cessation of liability of unsecured loan - assessee was not having trading liability u/s 41(1) of the Act - No additions - AT

  4. Cessation of liability u/s 41(1) - As per the explanation, the remission or cessation of any liability by a unilateral Act, is covered u/s.41(1) - additions confirmed - AT

  5. Addition u/s 41 - remission or cessation of liability - when the software library was capitalized, it cannot be said that any benefit or remission or cessation of...

  6. Addition u/s 41(1) on account of cessation of liability – there could be no cessation of liability solely on the ground that it is over three years old - AT

  7. Cessation of trading liability U/s 41(1)(a) - Outstanding of creditors even for more than three years cannot be considered as sufficient evidence of cessation of...

  8. Addition u/s 41 - sick company - cessation of liability towards unsecured loans availed from financial institutions in terms of order of the BIFR - Apex Court has held...

  9. Cessation of liability u/s 41(1) addition was made u/s 68 - CIT(A) correctly adjudicated the issue by holding that mere removal of name of the lender from MCA would not...

  10. Cessation of liability u/s 41(1) - conversion of the loan as well as the unpaid interest into share capital - when there was no writing off of liabilities and only the...

 

Quick Updates:Latest Updates

What's New:
    Latest Case Laws
What's New:
    Latest Notifications
What's New:
    Latest Circulars
C: Instruction on review of requirement of G-Card holders at a Customs St...
F: Late claim of ITC -16(4)
F: Addition of unaccounted supplies in the Returns
F: Penalty under Section 73(1) of CGST Act, 2017
F: ONLINE SOFTWARE IMPORT DUTY CALCULATION REG
F: QUANTUM OF PENALTY UNDER THE IGST ACT
A: Supreme Court orders about alleged bogus capital gains on alleged penn...
C: Verification of authenticity and genuineness of Certificate of Origin ...
H: Levy of interest and penalty - transition of amount wrongly claimed as...
C: Acceptance of Electronic Certificate of Origin (e-CoO) issued by the i...
H: Levy of penalty @200% - e-way bill which was generated by the appellan...
H: Eligibility for Input Tax Credit - Failure to report outward supply - ...
H: Seeking cancellation of the GST registration - The case involved a pet...
H: Reference to Departmental valuation officer [DVO] without first reject...
H: Validity of reopening of assessment - Validity of grant the approval b...
H: Validity of reopening of assessment - Petitioner received another noti...
H: Penalty levied u/s 271(1)(c) - Transfer pricing adjustment - assessee ...
H: Disallowance of commission paid to foreign agents - The Tribunal uphel...
H: Penalty u/s. 271(1)(c) - Referring to a precedent set by the Hon’ble S...
H: Deduction u/s 80IA(4) - Disallowance of project facility expenses - Re...
H: LTCG - deduction u/s 54 denied - Despite the assessees claim of having...
H: Validity of assessment framed u/s 143(3) by Non- jurisdictional ITO - ...
H: Addition u/s 69A - cash loans given by the assessee as unexplained - d...
H: Addition u/s 68 in the hands of partnership firm - capital introduced ...
C: Nomination for Mutual Fund Unit Holders – exemption for jointly held folios
C: Ease of doing business- Fund manager for Mutual fund schemes investing...
N: Reporting Entities notified for Aadhaar authentication service of the ...
N: Regarding amendment in Notification No. 77/2023 -Cus. (N.T.) dated 20....
A: Navigating the MSME Terrain: Insights from a Consultant's Perspect...
A: How to Decode the Form 16A Password for TDS on Non-Salary Income