https://www.taxtmi.com/caselaws?id=413684 The Tribunal dismissed the appeal, upholding the taxability of the waiver of Government Non-Plan Loans as income under the Income Tax Act, 1961. The waiver was considered taxable income as it was used for revenue expenses, not to acquire capital assets. The Tribunal relied on judicial precedents to support its decision, dismissing challenges related to specific sections' applicability and interest charges. The decision was delivered on 07/10/2021 through virtual court proceedings. en-us Thu, 07 Oct 2021 00:00:00 +0530 Mon, 18 Oct 2021 09:29:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=413684 The Tribunal dismissed the appeal, upholding the taxability of the waiver of Government Non-Plan Loans as income under the Income Tax Act, 1961. The waiver was considered taxable income as it was used for revenue expenses, not to acquire capital assets. The Tribunal relied on judicial precedents to support its decision, dismissing challenges related to specific sections' applicability and interest charges. The decision was delivered on 07/10/2021 through virtual court proceedings. Case-Laws Income Tax Thu, 07 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=413684