https://www.taxtmi.com/caselaws?id=310012 The Tribunal rectified its earlier order regarding the taxability of loan waivers. It clarified that the waiver of principal amounts of term loans is a capital receipt and not taxable, while the waiver of working capital loans is taxable. The issue of interest waiver was remanded for further verification. The Tribunal aligned its decision with relevant Supreme Court and High Court judgments. The Miscellaneous Petition filed by the Assessee was partly allowed, and the order was pronounced on 5th Sept, 2022. en-us Mon, 05 Sep 2022 00:00:00 +0530 Mon, 09 Oct 2023 11:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=310012 The Tribunal rectified its earlier order regarding the taxability of loan waivers. It clarified that the waiver of principal amounts of term loans is a capital receipt and not taxable, while the waiver of working capital loans is taxable. The issue of interest waiver was remanded for further verification. The Tribunal aligned its decision with relevant Supreme Court and High Court judgments. The Miscellaneous Petition filed by the Assessee was partly allowed, and the order was pronounced on 5th Sept, 2022. Case-Laws Income Tax Mon, 05 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=310012