https://www.taxtmi.com/highlights?id=25821 Taxability of the amount waived by the mutual funds/financial institutions - the amount of principal waived by the financial institutions cannot be taxed under section 41(1) as the same had not been debited to the profit and loss account in the earlier years nor had been claimed as a deduction from taxable income - HC en-us Mon, 09 Nov 2015 17:15:41 +0530 Mon, 09 Nov 2015 17:15:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=25821 Taxability of the amount waived by the mutual funds/financial institutions - the amount of principal waived by the financial institutions cannot be taxed under section 41(1) as the same had not been debited to the profit and loss account in the earlier years nor had been claimed as a deduction from taxable income - HC Highlights Income Tax Mon, 09 Nov 2015 17:15:41 +0530 https://www.taxtmi.com/highlights?id=25821