Waiver of loan not cessation of trading liability u/s 41(1). Section 28 (iv) not apply to cash benefits-SC
May 5, 2018
Income Tax, Supreme Court
Waiver of loan not cessation of trading liability u/s 41(1). Provision of Section 28 (iv) do not apply to benefits received in cash-Supreme Court The instant appeal(s) were filed by the Income Tax Department (Revenue/appellant) against the judgment passed by the High Court whereby the Division Bench of …