CORPORATE AND PROFESSIONAL UPDATE APRIL 26, 2016
CORPORATE AND PROFESSIONAL UPDATE APRIL 26, 2016 Direct Tax: Waiver of loan tantamount to benefit or perquisite, chargeable to tax under Sec. 28(iv)[2016] 68ย 289 (Madras)ย Commissioner of Income Tax v. Ramaniyam Homes (P.) Ltd. Interest on loan allowed to be deducted as loan was obtained to repay on old business loan [2016] 68ย 223 (Bangalore Trib.)ย Senate v. …