https://www.taxtmi.com/caselaws?id=219983 The High Court upheld the Tribunal's decision, ruling that the waiver of the loan by Amadeus Global Travel to the respondent-assessee, a Software Development Center, was a capital receipt for the Assessment Year 2001-02. The court determined that the loan was taken for acquiring a capital asset, i.e., relocating the office premises, making the waiver fall under capital account treatment. The court distinguished the case from previous rulings, emphasizing that the purpose of the loan dictated its tax treatment. Consequently, the appeal was dismissed as no substantial question of law arose for consideration. en-us Tue, 18 Dec 2012 00:00:00 +0530 Tue, 21 Jul 2026 11:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=219983 The High Court upheld the Tribunal's decision, ruling that the waiver of the loan by Amadeus Global Travel to the respondent-assessee, a Software Development Center, was a capital receipt for the Assessment Year 2001-02. The court determined that the loan was taken for acquiring a capital asset, i.e., relocating the office premises, making the waiver fall under capital account treatment. The court distinguished the case from previous rulings, emphasizing that the purpose of the loan dictated its tax treatment. Consequently, the appeal was dismissed as no substantial question of law arose for consideration. Case-Laws Income Tax Tue, 18 Dec 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=219983