2021 (2) TMI 428 - SCH - Income Tax

Addition u/s 41 or 28 - Disallowance of principal amount of loan waived off by the lender - one time settlement of loan with Mafatlal Finance Company Ltd., holding that the loan was acquired for acquisition/investment of capital assets as such its waiver cannot be termed as revenue receipt - HELD THAT - Special leave petition is dismissed on the ground of delay.

Summary

Title: Supreme Court dismisses special leave petition for delay

Court: Supreme Court

Citation: 2021 (2) TMI 428 - SC

Judges: Hon'ble Mr. Justice Ashok Bhushan and Hon'ble Mr. Justice R. Subhash Reddy

Petitioner's Counsel: Mr. N. Venkatraman, ASG Md. Akhil, Mr. B.K. Satija, Mr. Rupesh Kumar, Mrs. Anil Katiyar

Decision: Special leave petition dismissed due to delay