Cessation of loan liability - waiver of loan taken for purchase ...

Loan Waiver via One-Time Settlement Not a Business Benefit or Liability Remission u/s 41(1) of IT Act.

September 28, 2013

Case Laws Income Tax HC

Cessation of loan liability - waiver of loan taken for purchase of assets - OTS – it does not amount to a benefit arising out of business and it is also not even remission of the liability, which could attract Section 41(1) of the Act - HC

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Cessation of loan liability - waiver of loan taken for purchase ...

Loan Waiver via One-Time Settlement Not a Business Benefit or Liability Remission u/s 41(1) of IT Act.

September 28, 2013

Case Laws Income Tax HC

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