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Income Tax - Highlights / Catch Notes

Home Highlights April 2015 Year 2015 This

Loan waived by the banks in favour of the respondent assessee in ...

Case Laws     Income Tax

April 7, 2015

Loan waived by the banks in favour of the respondent assessee in one time settlement - whether the principal amounts of loans retained by the assessee on account of one time settlement, constituted its income as per section 28(iv) though not under Section 41(1) - Held No - HC

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