Loan Waiver for Capital Equipment Not Taxable as Income, High Court Rules Against Revenue's Appeal on Section 28(iv. https://www.taxtmi.com/highlights?id=74589 Taxability of Waiver of loan - loan advanced for acquisition of capital equipments - Revenue's first contention that the loan waived was availed towards working capital - whether waiver of loan attributable for the working capital was taxable under Section 28 (iv)? - Hon'ble Single Judge had remitted the matter to ITAT for reconsideration - Division Bench of High Court dismissed the revenue appeal. en-us Fri, 02 Feb 2024 07:51:52 +0530 Fri, 02 Feb 2024 07:51:52 +0530 TaxTMI RSS Generator Loan Waiver for Capital Equipment Not Taxable as Income, High Court Rules Against Revenue's Appeal on Section 28(iv. https://www.taxtmi.com/highlights?id=74589 Taxability of Waiver of loan - loan advanced for acquisition of capital equipments - Revenue's first contention that the loan waived was availed towards working capital - whether waiver of loan attributable for the working capital was taxable under Section 28 (iv)? - Hon'ble Single Judge had remitted the matter to ITAT for reconsideration - Division Bench of High Court dismissed the revenue appeal. Highlights Income Tax Fri, 02 Feb 2024 07:51:52 +0530 https://www.taxtmi.com/highlights?id=74589