https://www.taxtmi.com/highlights?id=72154 Additions u/s 41 (deemed incomed) - waiver of loan - Floating Rate Notes - To be treated as loan for business purpose or for purchase of capital asset - AO has mentioned in the assessment order that since the Loan was utilized to purchase the land, waiver of loan is business income. We do not agree with this proposition of the AO. - it is not taxable under section 28(i) - AT en-us Fri, 22 Sep 2023 09:12:11 +0530 Fri, 22 Sep 2023 09:12:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=72154 Additions u/s 41 (deemed incomed) - waiver of loan - Floating Rate Notes - To be treated as loan for business purpose or for purchase of capital asset - AO has mentioned in the assessment order that since the Loan was utilized to purchase the land, waiver of loan is business income. We do not agree with this proposition of the AO. - it is not taxable under section 28(i) - AT Highlights Income Tax Fri, 22 Sep 2023 09:12:11 +0530 https://www.taxtmi.com/highlights?id=72154