https://www.taxtmi.com/caselaws?id=66604 The Tribunal partly allowed the appeal, ruling that the amount waived by Andhra Bank Ltd. could not be considered as deemed income under section 41(1) or as income under section 28(iv) of the Income-tax Act, 1961. However, the disallowance of car expenses and depreciation was upheld. en-us Mon, 03 Feb 1986 00:00:00 +0530 Sat, 05 Mar 2011 10:56:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66604 The Tribunal partly allowed the appeal, ruling that the amount waived by Andhra Bank Ltd. could not be considered as deemed income under section 41(1) or as income under section 28(iv) of the Income-tax Act, 1961. However, the disallowance of car expenses and depreciation was upheld. Case-Laws Income Tax Mon, 03 Feb 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66604