Waiver of principal amount of loan from private bank cannot be treated as income - ITAT In a recent judgment,…
Waiver of loan not cessation of trading liability u/s 41(1). Provision of Section 28 (iv) do not apply to benefits…
Additions u/s 28(iv) not apply to benefits received in cash-money. ITAT quashed additions made by Assessing Officer alleging opening balances…