WHETHER WAIVER OF PRINCIPAL AMOUNT BY BANKS/FINANCIAL INSTITUTION IN ONE TIME SETTLEMENT IS TAXABLE AS INCOME IN CASE OF TEXTILE MANUFACTURING COMPANY. PLEASE QUOTE THE RELEVAnt case laws, IF ANY.
SURESH KABRA (PARTNER) (26 Points)
25 August 2009WHETHER WAIVER OF PRINCIPAL AMOUNT BY BANKS/FINANCIAL INSTITUTION IN ONE TIME SETTLEMENT IS TAXABLE AS INCOME IN CASE OF TEXTILE MANUFACTURING COMPANY. PLEASE QUOTE THE RELEVAnt case laws, IF ANY.
Ashish M
(Chartered Accountant)
(2731 Points)
Replied 26 August 2009
KINDLY FOLLOW THE LINK BELOW.............THANX
https://www.itatindia.com/datafolder/flash/flashbn2711_3.htm
AND THIS ALSO.....
https://www.thehindubusinessline.com/2009/02/28/stories/2009022850090900.htm
Landmark Judgments: Important Provisions of the EPF & ESI Act interpreted by the Honorable Supreme Court of India
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