MAT computation - Additions u/s 41(1) - principal portion of the ...

Waived Loan for Capital Expenditure Not Taxable u/ss 41(1) or 28(iv) in MAT Computation.

April 1, 2017

Case Laws Income Tax AT

MAT computation - Additions u/s 41(1) - principal portion of the waived loan - a loan which is originally taken for capital expenditure, if waived, will not give rise to taxable income either under section 41(1) or under section 28(iv) - AT

View Source

← Previous Next →

MAT computation - Additions u/s 41(1) - principal portion of the ...

Waived Loan for Capital Expenditure Not Taxable u/ss 41(1) or 28(iv) in MAT Computation.

April 1, 2017

Case Laws Income Tax AT

You may also like:

Income from waiver of loan - income changeable to tax or not? - brought to tax under section 28(iv) of the Act or under section 41(1) - it is clear that in the case...

Addition u/s 28(iv) r.w. section 41 r.w. explanation 2(iv) – the amount waived by the lender bank is not an income u/s 2(24) of the Act and further Section 28 also does...

Addition for the Term Loan taken waiver of secured loan - when the assessee had not claimed deduction under Section 36(1)(iii) of the Act for interest on loan and loan...

Taxability of amount of loan waived by the financial institution on account of one time settlement - income either u/s. 28(iv) or u/s. 41(1) - Taking support from the...

Addition u/s 41 - sick company - cessation of liability towards unsecured loans availed from financial institutions in terms of order of the BIFR - Apex Court has held...

Working capital loan in form of cash credit - waiver of loan - deemed income u/s 41(1) - held that:- even if we hold that Section 28(iv) of the Act is not applicable,...

Addition u/s 41(1) or u/s 28 - waiver of working capital loan - In respect of principal amount, though the assessee has gained the benefit by way of one time settlement...

Addition u/s.41(1) - waiver of loan as taxable u/s.41(1) - The loan received is a capital receipt and it does not lose its capital nature even when it is renounced or...

Principal amount of loans waived off by the financial institutions / banks - Loan amount had been taken for the purchase of machinery / fixed assets being on capital...

Taxability of Waiver of loan - loan advanced for acquisition of capital equipments - Revenue's first contention that the loan waived was availed towards working capital...

Waiver of capital loan under OTS is not taxable as revenue receipt u/s 28

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...

Addition u/s. 28(iv) - waiver of the outstanding principal amount of loan - amount used for the purchase of capital asset, the waiver thereof is a capital receipt not...

Assessee's case remanded to Assessing Officer to consider taxability of loan waiver under One Time Settlement Scheme with bank. If loan was for trading purpose, waiver...

Addition on account of non-genuine creditors u/s 41(1) - scope of section 41(1) - the benefit which he obtains by way of remission or cessation of a trading liability in...

Quick Updates: