https://www.taxtmi.com/forum/issue?id=114677 If a waived loan liability is written off and credited to the profit and loss account, the waived amount is treated as business income for tax purposes and not as income under Section 56(2)(x). en-us Mon, 25 Feb 2019 13:35:39 +0530 Thu, 23 Jan 2025 15:55:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/forum/issue?id=114677 If a waived loan liability is written off and credited to the profit and loss account, the waived amount is treated as business income for tax purposes and not as income under Section 56(2)(x). Discussion-Forum Income Tax Mon, 25 Feb 2019 13:35:39 +0530 https://www.taxtmi.com/forum/issue?id=114677