The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the waiver of principal loan amount in cash cannot be treated as business perquisite under section 28(iv) of the Income Tax Act, 1961. The assessee, Technichem Organics Pvt. Ltd. company is engaged in the business of manufacturing of organic chemicals. The Assessing Officer made…
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 
