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2019 (2) TMI 324 - SCH - Income TaxWaiver of the loan liability - Capital receipt or Revenue receipt - applicability of 41(1) - Held that - Not only there is no tax effect, the matter is also covered against the petitioners as per the Judgment of this Court in the case of Commissioner vs. Mahindra and Mahindra Ltd. 2018 (5) TMI 358 - SUPREME COURT . SLP dismissed.
The Supreme Court of India dismissed the Special Leave Petition as there was no tax effect and the matter was covered by a previous judgment in the case of Commissioner vs. Mahindra and Mahindra Ltd. (2018) 404 ITR 1(SC). Pending applications were disposed of.
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