https://www.taxtmi.com/forum/issue?id=105686 Whether a lender's waiver of debt is taxable hinges on the loan's purpose: waivers of loans used for working capital or revenue purposes are generally taxable as income, while waivers of loans used to acquire plant or other capital assets are generally not taxable; corrective action may be time barred and judicial precedent should be consulted. en-us Thu, 16 May 2013 11:30:07 +0530 Thu, 23 Jan 2025 15:57:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=105686 Whether a lender's waiver of debt is taxable hinges on the loan's purpose: waivers of loans used for working capital or revenue purposes are generally taxable as income, while waivers of loans used to acquire plant or other capital assets are generally not taxable; corrective action may be time barred and judicial precedent should be consulted. Discussion-Forum Income Tax Thu, 16 May 2013 11:30:07 +0530 https://www.taxtmi.com/forum/issue?id=105686