https://www.taxtmi.com/caselaws?id=32352 HC held that a loan obtained for trading, later waived and retained in the business, constituted taxable income as it enriched the trading operations. Applying the Supreme Court principle, the waived amount, though initially outside tax net, became assessable when reflected in the profit and loss account. Following similar precedent, the court found no substantial question of law and dismissed the appeal in limine. en-us Fri, 29 Aug 2008 00:00:00 +0530 Wed, 13 May 2026 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32352 HC held that a loan obtained for trading, later waived and retained in the business, constituted taxable income as it enriched the trading operations. Applying the Supreme Court principle, the waived amount, though initially outside tax net, became assessable when reflected in the profit and loss account. Following similar precedent, the court found no substantial question of law and dismissed the appeal in limine. Case-Laws Income Tax Fri, 29 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32352