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![One-Time Settlement of Debt by Bank not Perquisite from Business If Loan granted to Assessee was a Separate Transaction: ITAT [Read Order]](https://www.taxscan.in/wp-content/uploads/2018/11/CA-Certificate-ITAT-Taxscan.jpg "One-Time Settlement of Debt by Bank not Perquisite from Business If Loan granted to Assessee was a Separate Transaction: ITAT [Read Order]")
One-Time Settlement of Debt by Bank not Perquisite from Business If Loan granted to Assessee was a Separate Transaction: ITAT [Read Order]
The Ludhiana bench of the ITAT has held that the one-time settlement of debt by the bank cannot be treated as perquisite from the business under...