https://www.taxtmi.com/caselaws?id=66763 The Tribunal partially allowed the appeal, ruling that the amount of Rs. 1,12,961.80 waived by Andhra Bank cannot be considered as deemed income under Section 41(1) or as income under Section 28(iv) of the IT Act. However, the disallowance of car expenses and depreciation was upheld. en-us Mon, 03 Feb 1986 00:00:00 +0530 Mon, 07 Mar 2011 11:26:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66763 The Tribunal partially allowed the appeal, ruling that the amount of Rs. 1,12,961.80 waived by Andhra Bank cannot be considered as deemed income under Section 41(1) or as income under Section 28(iv) of the IT Act. 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=66763