Taxation on cessation of liability to repay a loan - the ...

Loan Forgiveness for Capital Asset Purchase Not Taxable as Income u/s 41(1) of Income Tax Act.

September 17, 2012

Case Laws Income Tax HC

Taxation on cessation of liability to repay a loan - the cessation of liability to repay a loan taken to purchase a capital asset does not result in a revenue receipt. - no addition u/s 41(1) - HC

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Taxation on cessation of liability to repay a loan - the ...

Loan Forgiveness for Capital Asset Purchase Not Taxable as Income u/s 41(1) of Income Tax Act.

September 17, 2012

Case Laws Income Tax HC

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