Waiver of loan amount by bank (principal or interest) not taxable under section 41(1).
I. Cost of Acquisition Based on Books Post-Amalgamation to Be Considered for Capital Gains. Issue: Whether the cost of acquisition of land and building for computing capital gains should be the value recorded in the books of the assessee-company after amalgamation, or the significantly lower value recorded by the transferor company before a slump sale,… Read More »