Income Tax Act, 1961 with Section 41(1)

Supreme Court clarifies taxability of loan waivers: Mahindra & Mahindra Ltd. Case (24 April 2018)

/ Abhay Manohar Sapre, Income Tax Act, 1961, Income Tax Act, 1961 with Section 28(iv), Income Tax Act, 1961 with Section 41(1), Judges, R.K. Agrawal

Supreme Court Clarifies Taxability of Loan Waivers: Mahindra & Mahindra Ltd. Case (2018) LEGAL ISSUE: Whether a loan waiver constitutes taxable income under the Income Tax Act, 1961. CASE TYPE: Income Tax Law. Case Name: The Commissioner vs. Mahindra and Mahindra Ltd. Judgment Date: 24 April 2018 Introduction Date of the Judgment: 24 April 2018 […]

Supreme Court clarifies taxability of loan waivers: Mahindra & Mahindra Ltd. Case (24 April 2018) Read Post »

Amalgamation and Tax Liability: Supreme Court clarifies treatment of waived interest under Section 41(1) and 72A of Income Tax Act: M/s. McDowell & Company Ltd. vs. Commissioner of Income-Tax (2017) INSC 181 (09 March 2017)

/ A.K. Sikri, Amalgamation and Tax Liability, Ashok Bhushan, Income Tax Act, 1961, Income Tax Act, 1961 with Section 41(1), Income Tax Act, 1961 with Section 72A, Judges

Can a company that takes over a sick company through amalgamation also inherit the tax liabilities of the sick company, especially when it benefits from tax exemptions? The Supreme Court of India, in this case, examined the interplay between Section 41(1) and Section 72A of the Income Tax Act, 1961. This case revolves around whether

Amalgamation and Tax Liability: Supreme Court clarifies treatment of waived interest under Section 41(1) and 72A of Income Tax Act: M/s. McDowell & Company Ltd. vs. Commissioner of Income-Tax (2017) INSC 181 (09 March 2017) Read Post »

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