https://www.taxtmi.com/caselaws?id=253915 The High Court of Bombay upheld the decision of the Income Tax Appellate Tribunal regarding the treatment of waived loan amounts as income under section 28(iv) of the Income Tax Act, 1961. The Tribunal's analysis focused on the characterization of loan transactions and the nature of the Assessee's business, ultimately finding no error in the Tribunal's order. The High Court dismissed the Revenue's Appeal, emphasizing the consistency and non-perversity of the concurrent findings, concluding that no substantial question of law arose from the case. en-us Fri, 14 Nov 2014 00:00:00 +0530 Mon, 08 Dec 2014 09:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253915 The High Court of Bombay upheld the decision of the Income Tax Appellate Tribunal regarding the treatment of waived loan amounts as income under section 28(iv) of the Income Tax Act, 1961. The Tribunal's analysis focused on the characterization of loan transactions and the nature of the Assessee's business, ultimately finding no error in the Tribunal's order. The High Court dismissed the Revenue's Appeal, emphasizing the consistency and non-perversity of the concurrent findings, concluding that no substantial question of law arose from the case. Case-Laws Income Tax Fri, 14 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253915