https://www.taxtmi.com/caselaws?id=401769 The High Court remanded the case back to the Assessing Officer for further review. The court directed the assessees to provide all necessary documentation, including books of accounts, and instructed ICICI Bank to furnish details of the loan transaction. The Assessing Officer was tasked with reevaluating the taxability of the loan waiver, deduction of bad debts, allowance of preoperative expenses, and depreciation on assets based on the complete documentation. Failure to comply within one month would result in the confirmation of the Tribunal's decision and dismissal of the appeals. en-us Tue, 10 Nov 2020 00:00:00 +0530 Wed, 16 Dec 2020 11:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=401769 The High Court remanded the case back to the Assessing Officer for further review. The court directed the assessees to provide all necessary documentation, including books of accounts, and instructed ICICI Bank to furnish details of the loan transaction. The Assessing Officer was tasked with reevaluating the taxability of the loan waiver, deduction of bad debts, allowance of preoperative expenses, and depreciation on assets based on the complete documentation. Failure to comply within one month would result in the confirmation of the Tribunal's decision and dismissal of the appeals. Case-Laws Income Tax Tue, 10 Nov 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=401769