https://www.taxtmi.com/caselaws?id=119441 The tribunal partially allowed the appeal, ruling that the waiver of a loan by M/s. SRF Employee Welfare Company Ltd. should not be treated as taxable income in the year of waiver. The waiver was considered a capital transaction affecting the cost of acquisition of shares under a stock option scheme, resulting in income (capital gains) only upon sale of shares. The tribunal concluded that the Supreme Court decision in Emil Webber v. CIT, relied upon by the lower authorities, was not applicable to the present case. en-us Fri, 25 May 2007 00:00:00 +0530 Wed, 01 Aug 2012 00:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=119441 The tribunal partially allowed the appeal, ruling that the waiver of a loan by M/s. SRF Employee Welfare Company Ltd. should not be treated as taxable income in the year of waiver. The waiver was considered a capital transaction affecting the cost of acquisition of shares under a stock option scheme, resulting in income (capital gains) only upon sale of shares. The tribunal concluded that the Supreme Court decision in Emil Webber v. CIT, relied upon by the lower authorities, was not applicable to the present case. Case-Laws Income Tax Fri, 25 May 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=119441