https://www.taxtmi.com/caselaws?id=194094 The Tribunal ruled in favor of the assessee, holding that the waiver of Rs. 29,63,27,000 should be treated as a capital receipt, not chargeable to tax. The addition of this amount was deleted. The disallowance of Rs. 5,75,925 was dismissed as not pressed, and the disallowance of Rs. 5,00,000 was upheld. en-us Fri, 25 Jul 2014 00:00:00 +0530 Tue, 29 Aug 2017 09:40:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194094 The Tribunal ruled in favor of the assessee, holding that the waiver of Rs. 29,63,27,000 should be treated as a capital receipt, not chargeable to tax. The addition of this amount was deleted. The disallowance of Rs. 5,75,925 was dismissed as not pressed, and the disallowance of Rs. 5,00,000 was upheld. Case-Laws Income Tax Fri, 25 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194094