https://www.taxtmi.com/highlights?id=27491 Income on account of remission of principal amount of loan - depreciation is neither a loss nor an expenditure nor a trading liability, therefore, settlement of principal amount by the bank/financial institution cannot be assessed U/s 41(1) of the Act. - AT en-us Thu, 25 Feb 2016 23:14:05 +0530 Thu, 25 Feb 2016 23:14:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=27491 Income on account of remission of principal amount of loan - depreciation is neither a loss nor an expenditure nor a trading liability, therefore, settlement of principal amount by the bank/financial institution cannot be assessed U/s 41(1) of the Act. - AT Highlights Income Tax Thu, 25 Feb 2016 23:14:05 +0530 https://www.taxtmi.com/highlights?id=27491