Waiver of the loan liability - Capital receipt or Revenue ...

Loan Waiver Deemed Capital Receipt; Section 41 Not Applicable Due to No Previous Allowance or Deduction.

January 30, 2012

Case Laws Income Tax HC

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

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Waiver of the loan liability - Capital receipt or Revenue ...

Loan Waiver Deemed Capital Receipt; Section 41 Not Applicable Due to No Previous Allowance or Deduction.

January 30, 2012

Case Laws Income Tax HC

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