Surplus arising on prepayment of deferred sales tax loan at net ...

Prepayment surplus of deferred sales tax loan is a capital receipt, not a trading liability u/s 41(1).

June 25, 2020

Case Laws Income Tax HC

Surplus arising on prepayment of deferred sales tax loan at net present value (NPV) - Whether a capital receipt which cannot be termed as remission on cessation of a trading liability under section 41(1)? - Held Yes

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Surplus arising on prepayment of deferred sales tax loan at net ...

Prepayment surplus of deferred sales tax loan is a capital receipt, not a trading liability u/s 41(1).

June 25, 2020

Case Laws Income Tax HC

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