https://www.taxtmi.com/caselaws?id=186008 The Tribunal dismissed cross appeals by the assessee and the Revenue regarding the deletion of addition on account of waiver of loan and interest. The Tribunal held that the waived loan amount was not taxable under sec. 28(iv) as the loan transactions were not business-related. Additionally, the accrued interest on the loan was considered taxable income as it was waived by the assessee. Both appeals were dismissed on June 30, 2011. en-us Thu, 30 Jun 2011 00:00:00 +0530 Mon, 05 Sep 2016 17:00:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186008 The Tribunal dismissed cross appeals by the assessee and the Revenue regarding the deletion of addition on account of waiver of loan and interest. The Tribunal held that the waived loan amount was not taxable under sec. 28(iv) as the loan transactions were not business-related. Additionally, the accrued interest on the loan was considered taxable income as it was waived by the assessee. Both appeals were dismissed on June 30, 2011. Case-Laws Income Tax Thu, 30 Jun 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186008