Prepayment surplus of deferred sales tax loan is a capital receipt, not a trading liability u/s 41(1).

Prepayment surplus of deferred sales tax loan is a capital receipt, not a trading liability u/s 41(1). https://www.taxtmi.com/highlights?id=53834 Surplus arising on prepayment of deferred sales tax loan at net present value (NPV) - Whether a capital receipt which cannot be termed as remission on cessation of a trading liability under section 41(1)? - Held Yes en-us Thu, 25 Jun 2020 10:05:47 +0530 Thu, 25 Jun 2020 10:05:47 +0530 TaxTMI RSS Generator Prepayment surplus of deferred sales tax loan is a capital receipt, not a trading liability u/s 41(1). https://www.taxtmi.com/highlights?id=53834 Surplus arising on prepayment of deferred sales tax loan at net present value (NPV) - Whether a capital receipt which cannot be termed as remission on cessation of a trading liability under section 41(1)? - Held Yes Highlights Income Tax Thu, 25 Jun 2020 10:05:47 +0530 https://www.taxtmi.com/highlights?id=53834