https://www.taxtmi.com/caselaws?id=347012 The High Court of Bombay held that the waiver of a principal amount of loan used for acquiring capital assets is a capital receipt not chargeable to tax. The waiver in question was deemed unrelated to trading activity but rather linked to the purchase of capital assets. The Court referenced relevant case law to support its decision and dismissed the appeal, finding no error of law in the factual findings. en-us Fri, 18 Aug 2017 00:00:00 +0530 Sat, 26 Aug 2017 09:06:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=347012 The High Court of Bombay held that the waiver of a principal amount of loan used for acquiring capital assets is a capital receipt not chargeable to tax. The waiver in question was deemed unrelated to trading activity but rather linked to the purchase of capital assets. The Court referenced relevant case law to support its decision and dismissed the appeal, finding no error of law in the factual findings. Case-Laws Income Tax Fri, 18 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=347012