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<h1>Clause 95 and Section 59: Taxation on Benefits from Liability Remission or Cessation in Income Tax Bill 2025.</h1> Clause 95 of the Income Tax Bill, 2025, and Section 59 of the Income-tax Act, 1961, focus on taxing benefits from the remission or cessation of liabilities. Clause 95 ensures such benefits, whether cash or otherwise, are taxable in the year received, preventing tax evasion. It incorporates Section 38(1)(a) for broader income applicability. Section 59 applies Section 41(1) to ensure forgiven liabilities are not tax-exempt. Both provisions require clear guidance on non-cash benefits and assessment year determination. While they share objectives, Clause 95 addresses modern tax challenges with a forward-looking approach, reflecting evolving tax legislation.