https://www.taxtmi.com/caselaws?id=177373 The Appellate Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the addition of &8377;35,08,765 made under Section 28(iv) read with Section 2(24). The Tribunal found no reason to interfere with the CIT(A)'s order based on the lack of contrary binding decisions or distinguishable features presented by the Revenue. The judgment focused on the taxability of a written back amount of a loan under specific sections of the Income Tax Act, ultimately ruling in favor of the Assessee based on the nature of the business activities and legal interpretations provided by the CIT(A) and the Appellate Tribunal. en-us Thu, 19 Feb 2015 00:00:00 +0530 Fri, 08 Jan 2016 10:05:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177373 The Appellate Tribunal dismissed the Revenue's appeal, affirming the CIT(A)'s decision to delete the addition of &8377;35,08,765 made under Section 28(iv) read with Section 2(24). The Tribunal found no reason to interfere with the CIT(A)'s order based on the lack of contrary binding decisions or distinguishable features presented by the Revenue. The judgment focused on the taxability of a written back amount of a loan under specific sections of the Income Tax Act, ultimately ruling in favor of the Assessee based on the nature of the business activities and legal interpretations provided by the CIT(A) and the Appellate Tribunal. Case-Laws Income Tax Thu, 19 Feb 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177373