https://www.taxtmi.com/caselaws?id=382721 The High Court dismissed the Revenue's appeal under Section 260 A of the Income Tax Act, 1961, challenging the order regarding remission of loan liability under the Interest Free Sales Tax deferral scheme for the Assessment Year 2010-2011. The Court affirmed the Tribunal's decision, ruling that the benefit received did not fall under Section 41(1) read with Section 28(iv) of the Act, in line with established legal precedents. The appeal was dismissed, emphasizing that Section 41(1) was not applicable in the case, following the precedent set by the Supreme Court. en-us Mon, 01 Jul 2019 00:00:00 +0530 Wed, 10 Jul 2019 06:47:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382721 The High Court dismissed the Revenue's appeal under Section 260 A of the Income Tax Act, 1961, challenging the order regarding remission of loan liability under the Interest Free Sales Tax deferral scheme for the Assessment Year 2010-2011. The Court affirmed the Tribunal's decision, ruling that the benefit received did not fall under Section 41(1) read with Section 28(iv) of the Act, in line with established legal precedents. The appeal was dismissed, emphasizing that Section 41(1) was not applicable in the case, following the precedent set by the Supreme Court. Case-Laws Income Tax Mon, 01 Jul 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382721