https://www.taxtmi.com/highlights?id=71766 Additions of benefits or perquisites received as business income - waiver of loan u/s 28(iv) - the assessee had purchased the equipment, for which assessee had not paid. Thus, what actually, assessee had received was equipment, for which, the assessee had not paid anything. Thus, receipt of equipment, is a benefit, which is not in the form of cash. The assessee has also received benefit in the form of depreciation. - Additions confirmed - AT en-us Fri, 01 Sep 2023 08:55:06 +0530 Thu, 31 Aug 2023 19:26:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=71766 Additions of benefits or perquisites received as business income - waiver of loan u/s 28(iv) - the assessee had purchased the equipment, for which assessee had not paid. Thus, what actually, assessee had received was equipment, for which, the assessee had not paid anything. Thus, receipt of equipment, is a benefit, which is not in the form of cash. The assessee has also received benefit in the form of depreciation. - Additions confirmed - AT Highlights Income Tax Fri, 01 Sep 2023 08:55:06 +0530 https://www.taxtmi.com/highlights?id=71766