https://www.taxtmi.com/highlights?id=70640 Nature of receipt - one time settlement arising out of waiver of dues of term loan by the lender - Revenue or capital receipt - The waiver of the principal amount which was taken for trading purpose and credited to the profit & loss account of the assessee, has been rightly taxed as Revenue receipt u/s 41(1) - AT en-us Thu, 29 Jun 2023 14:42:11 +0530 Thu, 29 Jun 2023 14:42:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=70640 Nature of receipt - one time settlement arising out of waiver of dues of term loan by the lender - Revenue or capital receipt - The waiver of the principal amount which was taken for trading purpose and credited to the profit & loss account of the assessee, has been rightly taxed as Revenue receipt u/s 41(1) - AT Highlights Income Tax Thu, 29 Jun 2023 14:42:11 +0530 https://www.taxtmi.com/highlights?id=70640