The Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the Principal Portion of the loan amount waived by lender credited to Profit & Loss account is not liable to tax. Tikona Trust, the assessee trust is a “private trust” and had filed a return of income on 31st August 2018 showing…
Taxscan Premium
Why should you subscribe?
- Enjoy our website without interruptions from advertisements
- Receive Daily newsletters
- Receive realtime Telegram/Whatsapp news updates
- Download original Judgements / Order / Notifications / Circulars, etc
- Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
₹1199 + GST for 1 year
Subscribe Now
Already Subscribed?
Login Now 
