TMI BlogWaiver of the loan liability - Capital receipt or Revenue receipt - the amount claimed as capital...Waiver of the loan liability - Capital receipt or Revenue receipt - the amount claimed as capital receipt is in respect to which there was no allowance or deduction claimed by the assessee for the previous year. - Thus Section 41 is not attracted..... - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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