Amount of loan waived - whether it does not constitute the income of the assessee in the context of...

Amount of loan waived - whether it does not constitute the income of the assessee in the context of Section 28[iv] - Once the loan is written off and the person writing off the loan, does not stand to benefit, in any concrete manner, except to the extent that he will be protected against any statutory claim, the same cannot be treated as revenue income - HC .....

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