https://www.taxtmi.com/caselaws?id=386245 The SC upheld the decision of the ITAT, Mumbai, dismissing the appeal challenging the deletion of a loan waiver as a revenue receipt. The loan waiver was deemed non-taxable under the Income Tax Act, as it was acquired for capital assets, not falling under relevant sections. The Court found no error in the factual findings and concluded that the issue did not raise any substantial question of law, ultimately dismissing the appeal. en-us Wed, 11 Sep 2019 00:00:00 +0530 Wed, 25 Sep 2019 06:41:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=386245 The SC upheld the decision of the ITAT, Mumbai, dismissing the appeal challenging the deletion of a loan waiver as a revenue receipt. The loan waiver was deemed non-taxable under the Income Tax Act, as it was acquired for capital assets, not falling under relevant sections. The Court found no error in the factual findings and concluded that the issue did not raise any substantial question of law, ultimately dismissing the appeal. Case-Laws Income Tax Wed, 11 Sep 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=386245