https://www.taxtmi.com/caselaws?id=383092 The ITAT directed the Assessing Officer to verify the utilization of the loan amounts. If the loans were used for business purposes, the waiver would be taxable as per the principles in T.V. Sundaram Iyengar & Sons Ltd. and Solid Containers vs CIT. The appeal by the Revenue was allowed for statistical purposes, and the issue was remitted back for fresh consideration. en-us Fri, 22 Mar 2019 00:00:00 +0530 Wed, 17 Jul 2019 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383092 The ITAT directed the Assessing Officer to verify the utilization of the loan amounts. If the loans were used for business purposes, the waiver would be taxable as per the principles in T.V. Sundaram Iyengar & Sons Ltd. and Solid Containers vs CIT. The appeal by the Revenue was allowed for statistical purposes, and the issue was remitted back for fresh consideration. Case-Laws Income Tax Fri, 22 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383092