Tag: waiver of loan
Waiver of principal amount of loan from private bank cannot be treated as income – ITAT In a recent judgment, ITAT Chandigarh has held that the waiver of the principal amount of loan from private bank cannot be treated as income under Sections 2(24)(xviii), 28(iv) and 41(1) of …
No waiver of loans of capitalists by the banks-Finance Minister In his blog tilted “The Fiction of Loan Waiver to Capitalists” has denied rumours Press Information Bureau Government of India Ministry of Finance 28-November-2017 18:43 IST Article by the Union Finance Minister on ‘The Fiction of Loan Waiver …
Reduction of loan waived from fixed assets actual cost-wdv u/s 43(6)(c) not required for calculating depreciation allowable under Income tax Act – ITAT In a recent judgment, ITAT Delhi has held that reduction of loan waived from fixed assets actual cost-wdv u/s 43(6)(c) not required for calculating depreciation …
