How many judgments cite CIT v. Tosha International Ltd.?

36 judgments on BharatTax cite CIT v. Tosha International Ltd. (176 Taxmann 187), spanning 2011 to 2025.

CIT v. Tosha International Ltd.

176 Taxmann 187High Court2009#3360 most cited

What is CIT v. Tosha International Ltd. authority for?

Waiver of loan principal or interest by banks/financial institutions is not taxable under Section 41(1) if the loan was not claimed as a deduction in earlier years. Such transactions are loan-based and do not fall under Section 2(24) or Section 28(iv) of the Income Tax Act.

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2011 to 2025.

Also referred to as

CIT v. Tosha International Ltd. · Section 41(1) · Section 28(iv) · Section 2(24) · waiver of loan · loan waiver income · remission of loan · cessation of liability · taxability of loan waiver · interest waiver income · principal waiver income

Also reported as

331 ITR 440

Read the full judgment

Issues it is cited on

waiver of loan section 28(iv)section 41(1)section 41 liable to tax section 2(24)section 28 previous year transfer section 143(2)section 143 company

Judgments citing CIT v. Tosha International Ltd.

DY. COMMISSIONER OF INCOME TAX CENTRAL CIRCLE-I NOIDA, NOIDA vs. M/S RUDRA BUILDWELL HOMES PVT. LTD., DELHI

Accordingly, all the grounds of appeal taken by Revenue are dismissed

ITA 4119/DEL/2025[2022-23]Status: DisposedITAT Delhi24 Dec 2025AY 2022-23

Bench: Shri Satbeer Singh Godara & Shri Manish Agarwaldy. Cit, M/S Rudra Buildwell Homes Central Circle-I, Private Limited, Noida-201301, Vs. D-53, Okhla, Phase-1, Uttar Pradesh. Delhi-110020. Pan-Aafcr6959P (Appellant) (Respondent) Dy. Cit, M/S Rudra Buildwell Projects Central Circle-I, Private Limited, Noida-201301, Vs. D-53, Okhla, Phase-1, Uttar Pradesh. Delhi-110020. Pan-Aaecr9589E (Appellant) (Respondent)

Section 142(1)Section 143(2)Section 143(3)Section 41(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’: NEW DELHI BEFORE SHRI SATBEER SINGH GODARA, JUDICIAL MEMBER AND SHRI MANISH AGARWAL, ACCOUNTANT MEMBER Dy. CIT, M/s Rudra Buildwell Homes Central Circle-I, Private Limited, Noida-201301, Vs. D-53, Okhla, Phase-1, Uttar Pradesh. Delhi-110020. PAN-AAFCR6959P (Appellant) (Respondent) Dy. CIT, M/s Rudra Buildwell Projects Central Circle-I, Private Limited, Noida-201301, Vs. D-53, Okhla, Phase-1, Uttar Pradesh. Delhi-110020. PAN-AAECR9589E (Appellant) (Respondent) Assessee by Shri Vir Sain Aggarwal, Adv. and Shri Rohit Kapoor, Adv. Department by Shri Mahesh K…

DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE -3, NASHIK vs. WINDSOR MACHINES LTD., MUMBAI

In the result, the appeal of Revenue is partly allowed

ITA 915/PUN/2022[2011-12]Status: DisposedITAT Pune20 Oct 2023AY 2011-12

Bench: Shri S.S. Viswanethra Ravi & Shri G.D. Padmahshali

For Appellant: Shri Kishor B. PhadkeFor Respondent: Shri Ajay Kumar Kesari

Section 3Section 32(2)

…आयकर अपीलीय अधिकरण “बी” न्यायपीठ पुणे में । IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, PUNE BEFORE SHRI S.S. VISWANETHRA RAVI, JUDICIAL MEMBER AND SHRI G.D. PADMAHSHALI, ACCOUNTANT MEMBER आयकर अपील सं. / ITA No.915/PUN/2022 धििधारण वर्ा / Assessment Year : 2011-12 Dy. Commissioner of Income Tax, Central Circle -1, Nashik .......अपीलार्थी / Appellant बनाम / V/s. Windsor Machines Limited, 102/103, Dev Milan CHS Ltd., Next to Tip Top Plaza, LBS Road, Thane West, Mumbai – 400604 PAN : AAACD4302P ……प्रत्यर्थी / Respondent Assessee by : Shri Kishor B. Phadke Revenue by : Shri Ajay Kumar Kesari सुनवाई की ता…

ITO WARD-4(1)(3), MUMBAI vs. M/S ASHIK WOLLEN MILLS LIMITED, MUMBAI

In the result, this appeal of revenue is allowed in terms indicated here

ITA 3021/MUM/2022[2011-2012]Status: FixedITAT Mumbai10 May 2023AY 2011-2012

Section 143(1)Section 144Section 147Section 148Section 41(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH, MUMBAI SHRI VIKAS AWASTHY, JUDICIAL MEMBER & SHRI B.M. BIYANI, ACCOUNTANT MEMBER ITO, M/s Ashik Woolen Mills Ward-4(1)(3), Limited, Room No. 637A, 6th Floor, 5th Floor, Shreeji Krupa, बनाम/ Aayakar Bhawan, Krishnalal Zaveri Marg, Vs. M.K. Road, Churchgate, CP Tank, Mumbai – 400 020 Mumbai – 400 004 (Appellant / Revenue) (Respondent / Assessee) PAN: AAACA 5048 F C.O. No. 10/Mum/2023 (Assessment Year: 2011-12) M/s Ashik Woolen Mills ITO, Limited, Ward-4(1)(3), 5th Floor, Shreeji Krupa, Room No. 637A, 6th Floor, बनाम/ Krishnalal Zaveri Marg, Aayakar Bhawan, Vs. CP Tan…

JSW STEELS LTD,MUMBAI vs. DCIT CC 8(3), MUMBAI

In the result, the appeal by the assessee is allowed for statistical purposes

ITA 2116/MUM/2017[2012-13]Status: DisposedITAT Mumbai04 May 2023AY 2012-13

Bench: Shri Amarjit Singh & Shri Sandeep Singh Karhail

For Appellant: Shri Rishabh Shah a/wFor Respondent: Dr. Yogesh Kumar

Section 115JSection 142(1)Section 143(2)Section 143(3)Section 144C(1)Section 144C(13)Section 144C(5)Section 14ASection 801ASection 80I

…IN THE INCOME TAX APPELLATE TRIBUNAL “K” BENCH, MUMBAI BEFORE SHRI AMARJIT SINGH, ACCOUNTANT MEMBER AND SHRI SANDEEP SINGH KARHAIL, JUDICIAL MEMBER ITA no.2116/Mum./2017 (Assessment Year : 2012–13) M/s. JSW Steel Ltd. JSW Centre, Bandra Kurla Complex ……………. Appellant Bandra (East), Mumbai 400 051 PAN – AAACJ4323N v/s Dy. Commissioner of Income Tax …………….Respondent Central Circle–8(3), Mumbai Assessee by : Shri Rishabh Shah a/w Shri Gaurav Kabra Revenue by : Dr. Yogesh Kumar Date of Hearing – 29/03/2023 Date of Order – 04/05/2023 O R D E R PER SANDEEP SINGH KARHAIL, J.M. The present appeal has filed by the…

INDIA CEMENTS CAPITAL LTD.,CHENNAI vs. ACIT CORPORATE CIRCLE 2(2), CHENNAI

The appeal stand allowed for statistical purposes

ITA 1932/CHNY/2018[2009-10]Status: DisposedITAT Chennai20 May 2022AY 2009-10

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri Guru Bashyam (CIT) –Ld. DR

Section 263Section 41(1)

…refore, the waiver, if any, would be in capital field. Regarding taxability u/s 28(iv), these transactions were loan transactions and would not come within the purview of Sec.2(24). The decision of Hon’ble Delhi High court in CIT V/s Tosha International Ltd. (331 ITR 440) would support the said proposition. Therefore, the impugned additions could not be sustained either u/s 41(1) or u/s 28(iv) and the same were to be deleted. The Ld. CIT(A) also concurred with another alternative submissions of the assessee that it had received Rs.46.59 Crores against receivables of Rs.93.45 Crores and therefore, the balance amou…

DCIT CORPORATE CIRCLE 3(2), CHENNAI vs. UNIQUE RECEIVABLE MANAGEMENT PVT. LTD., CHENNAI

The appeal stand allowed for statistical purposes

ITA 3081/CHNY/2017[2009-10]Status: DisposedITAT Chennai20 May 2022AY 2009-10

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri Guru Bashyam (CIT) –Ld. DR

Section 263Section 41(1)

ACIT, CHENNAI vs. M/S. INDIA CEMENTS CAPITAL AND FINANCE LTD., CHENNAI

The appeal stand allowed for statistical purposes

ITA 1626/CHNY/2012[2006-07]Status: DisposedITAT Chennai20 May 2022AY 2006-07

Bench: Hon’Ble Shri Mahavir Singh & Hon’Ble Shri Manoj Kumar Aggarwal, Am

For Appellant: Shri R. Vijayaraghavan (Advocate) – Ld. ARFor Respondent: Shri Guru Bashyam (CIT) –Ld. DR

Section 263Section 41(1)

INCOME TAX OFFICER, WARD- 4(1)(2), BENGALURU vs. M/S. KAPTRONICS PRIVATE LIMITED, BENGALURU

In the result, the appeal by the revenue is dismissed

ITA 1864/BANG/2019[2014-15]Status: DisposedITAT Bangalore07 Apr 2022AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2014-15

For Appellant: Shri Priyadarshi Mishra, CIT(DR)(ITAT), BengaluruFor Respondent: Shri S.V. Ravishankar, Advocate

Section 143(2)Section 143(3)Section 28Section 41(1)

…IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER Assessment year: 2014-15 The Income Tax Officer, Vs. M/s. Kaptronics Pvt. Ltd., Ward 4(1)(2), No.165/4, C.K. Palya, Bengaluru. Bannerghatta Road, Bengaluru – 560 083. PAN: AABCK 1953C APPELLANT RESPONDENT Appellant by : Shri Priyadarshi Mishra, CIT(DR)(ITAT), Bengaluru. Respondent by : Shri S.V. Ravishankar, Advocate Date of hearing : 16.03.2022 Date of Pronouncement : 07.04.2022 O R D E R Per Chandra Poojari, Accountant Member This appeal by the revenue is against…

M/S I G PETROCHEMICAL LIMITED ,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-3(1)(1), BANGALORE

In the result, the appeal filed by the assessee is partly allowed for statistical purposes

ITA 1317/BANG/2018[2006-07]Status: DisposedITAT Bangalore21 Jan 2022AY 2006-07

Bench: Shri N.V. Vasudevan & Shri Chandra Poojariassessment Year: 2006-07

For Appellant: Shri S. Parthasarathi, A.RFor Respondent: Shri Pradeep Kumar, D.R

Section 143(3)Section 2Section 2(24)(vd)Section 263Section 28Section 41(1)

…ts, it was observed that from the records it was not clear whether any allowance or deduction was allowed to the assessee in the previous year. Hence the issue was remitted to be examined by the AO. 15. The Delhi High Court in CIT v. Tosha International Ltd. (331 ITR 440) (Bom) followed the judgment of Bombay High Court in the case of Mahindra & Mahindra Ltd. v. CIT, 261 ITR 501 (Bom) and held that the amount of loan and interest due by the assessee to banks and financial institutions having never been claimed by the assessee as deduction, waiver of interest or part of principal amount by banks/financial institut…

M/S HOTHUR TRADERS ,BELLARY vs. THE ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

In the result, the appeal by the assessee is dismissed

ITA 541/BANG/2019[2011-12]Status: DisposedITAT Bangalore25 Mar 2021AY 2011-12

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2011-12 M/S. Hothur Traders, Vs. The Assistant Commissioner Plot Nos. 5, 6, 7 & 8, Of Income Tax, “Hothur House”, Infantry Road, Circle 1, Cantonment, Fort Road, Bellary – 583 104. Bellary – 583 102. Pan: Aaefh 7705H Appellant Respondent

For Appellant: Shri Shiva Prasad Reddy, IRSFor Respondent: Shri Kannan Narayanan, Jt.CIT(DR)(ITAT), Bengaluru

Section 10BSection 143(1)Section 143(3)Section 147Section 148Section 41(1)

…the orders of the Tribunal, appeal was preferred by the said assessee and the Hon’ble Delhi High Court vide orders dated 18th February, 2011 affirmed the order of the Tribunal. CIT v. Phool Chand Jiwan Ram, 131 ITR 37 (Del) and Tosha (2) International Ltd., 331 ITR 440 (Del) : It was held that they are not applicable in the instant case. In the case of Phool Chand Jiwan Ram (supra) the relevant facts are that the assessee had purchased goods in an earlier year from M/s Narsinghdass Banarsidass, the payment in respect of which was made by M/s Janaki Dass Banarasi Dass. The amount was subsequently waived. The cas…

BELL GRANITO CERAMICS LTD.,,BARODA vs. THE DY.CIT.,CIRCLE-1(1),, BARODA

In the result, appeal of the assessee is allowed

ITA 2203/AHD/2014[2008-09]Status: DisposedITAT Ahmedabad30 May 2019AY 2008-09

Bench: Shri Mahavir Prasad & Shri Waseem Ahmed)

For Appellant: Smt. Urvashi Shodhan, A.RFor Respondent: Shri O.P. Meena, CIT/DR

Section 142(1)Section 143(2)Section 143(3)Section 147Section 148

…IN THE INCOME TAX APPELLATE TRIBUNAL AHMEDABAD “C” BENCH (BEFORE SHRI MAHAVIR PRASAD, JUDICIAL MEMBER & SHRI WASEEM AHMED, ACCOUNTANT MEMBER) ITA. No: 2203AHD/2014 (Assessment Year: 2008-09) Bell Granito Ceramics V/S The DCIT, Circle-1(1), Ltd., Village-Gavasad, Tal. Baroda Padra, Dist. Baroda (Appellant) (Respondent) PAN: AAACB9401D Appellant by : Smt. Urvashi Shodhan, A.R. Respondent by : Shri O.P. Meena, CIT/DR (आदेश)/ORDER Date of hearing : 24 -04-2019 Date of Pronouncement : 30 -05-2019 PER MAHAVIR PRASAD, JUDICIAL MEMBER 1. This appeal filed by the Assessee is directed against the order o…

THE ITO, CORPORATE WD-2(4), KOCHI vs. M/S.TEAM FRONT LINE LTD, KOCHI

In the result, this appeal filed by the revenue is treated to be allowed

ITA 502/COCH/2018[2015-16]Status: DisposedITAT Cochin22 Mar 2019AY 2015-16

Bench: S/Shri Chandra Poojari, Am & George George K., Jm

…1 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE S/SHRI CHANDRA POOJARI, AM & GEORGE GEORGE K., JM I.T.A. No. 502/Coch/2018 Assessment Year : 2015-16 The ITO, Corporate Ward-2(4), Vs. M/s. Team Front Line Ltd., Kochi. 63/642A, Prasanth Bhavan, Opp. Girinagar Fire Station, Kochi-682 017. [PAN:AAACT 8674Q] (Revenue-Appellant) (Assessee-Respondent) Revenue by Smt. A.S. Bindhu, Sr. DR Assessee by Shri Mathew Joseph, CA Date of hearing 19/03/2019 Date of pronouncement 22/03/2019 O R D E R Per CHANDRA POOJARI, AM: The appeal filed by the Revenue is directed against the order of the C…

ITO, WARD-2(2), HYDERABAD, HYDERABAD vs. GOLD CHICK HATCHERIES AND FOOD LTD, HYD, HYDERABAD

In the result, appeal of the revenue is dismissed

ITA 668/HYD/2016[2011-12]Status: DisposedITAT Hyderabad29 Nov 2018AY 2011-12

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2011-12 Income-Tax Officer, Vs. M/S Gold Chick Hatcheries & Ward – 2(2), Hyderabad Foods Ltd., Hyderabad. Pan – Aabcg4056E Appellant Respondent Revenue By: Smt. Alka Rajavanshi Jain Assessee By: Shri Ramesh Babu Kilaru Date Of Hearing: 26/09/2018 Date Of Pronouncement: /11/2018 O R D E R Per S. Rifaur Rahman, Am:

For Appellant: Shri Ramesh Babu KilaruFor Respondent: Smt. Alka Rajavanshi Jain

Section 115JSection 28Section 3(1)Section 4Section 41

…IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD BENCH ‘B', HYDERABAD BEFORE SMT. P. MADHAVI DEVI, JUDICIAL MEMBER AND SHRI S. RIFAUR RAHMAN, ACCOUNTANT MEMBER Assessment Year: 2011-12 Income-tax Officer, vs. M/s Gold Chick Hatcheries & Ward – 2(2), Hyderabad Foods Ltd., Hyderabad. PAN – AABCG4056E Appellant Respondent Revenue by: Smt. Alka Rajavanshi Jain Assessee by: Shri Ramesh Babu Kilaru Date of hearing: 26/09/2018 Date of pronouncement: /11/2018 O R D E R PER S. RIFAUR RAHMAN, AM: This appeal is filed by the Revenue against order of CIT(A) - 2, Hyderabad, dated 29/01/2016 for AY 2011-12. 2. Brief facts of t…

KUMAR WIRE CLOTH MANUFACTURING CO. LTD,RAIGAD vs. ITO 5(2)(2), MUMBAI

In the result, appeal of the assessee is allowed

ITA 6284/MUM/2012[2008-09]Status: DisposedITAT Mumbai05 Oct 2018AY 2008-09

Bench: Shri G.S. Pannu & Shri Pawan Singhm/S Kumar Wire Cloth Ito Ward - 5(2)(2) Manufacturing Co. Ltd. Mumbai. D-23, Midc, Taloja, Tal-Panvel, Vs. District-Raigad, 410218. Pan: Aaack1716E Appellant Respondent Appellant By : Shri V.Chandrasekhar (Ar) Respondent By : Ms. Pooja Swaroop (Ar)

For Appellant: Shri V.Chandrasekhar (AR)For Respondent: Ms. Pooja Swaroop (AR)

Section 143(3)Section 253Section 254(1)

…IN THE INCOME-TAX APPELLATE TRIBUNAL “H” BENCH MUMBAI BEFORE SHRI G.S. PANNU, ACCOUNTANT MEMBER AND SHRI PAWAN SINGH JUDICIAL MEMBER M/s Kumar Wire Cloth ITO Ward - 5(2)(2) Manufacturing Co. Ltd. Mumbai. D-23, MIDC, Taloja, Tal-Panvel, Vs. District-Raigad, 410218. PAN: AAACK1716E Appellant Respondent Appellant by : Shri V.Chandrasekhar (AR) Respondent by : Ms. Pooja Swaroop (AR) Date of Hearing : 10.07.2018 Date of Pronouncement : 05.10.2018 ORDERUNDER SECTION 254(1)OF INCOME TAX ACT PER PAWAN SINGH, JUDICIAL MEMBER; 1. This appeal by assessee under Section 253 of Income-tax Act is directed against the…

DCIT CEN CIR 8(3), MUMBAI vs. VRINDAVAN SERVICES P.LTD, MUMBAI

In the result, appeal filed by the revenue is dismissed

ITA 235/MUM/2015[2011-12]Status: DisposedITAT Mumbai18 Jul 2018AY 2011-12

Bench: Shri Joginder Singh() & Shri G Manjunatha ()

Section 132Section 132(4)Section 139(1)Section 28Section 80

…acquiring capital 14 ITA 235/Mum/2015 asset did not constitute trading liability, and therefore, the same was not taxable u/s 41(1) or section 28(iv) of the Act. It is further noted that Hon’ble Delhi High Court in the case of CIT vs Tosha International Ltd 331 ITR 440 adopted the same view after considering the judgment of Hon’ble Bombay High Court in the case of Mahindra & Mahindra Ltd (supra). Thus, from the aforesaid legal discussion and facts of the case before us, we find that the order passed by the Ld. CIT(A) is well reasoned and based on correct legal position and, therefore, no interference is called…

K. BHATIA CORPORATION,MUMBAI vs. AST CIT CIR 19(3), MUMBAI

ITA 637/MUM/2012[2006-07]Status: PendingITAT Mumbai08 Jun 2018AY 2006-07

Bench: Shri R. C. Sharma, Am & Sh. Sandeep Gosain, Jm आयकरअपीलसं./ I.T.A. No. 637/Mum/2012 (निर्धारणवर्ा / Assessment Year: 2006-07)

For Appellant: Shri NeelkanthFor Respondent: ShriH. Anoop

Section 37(1)Section 68

…l asset does not result in a revenue receipt and it is not taxable under section 28(iv) - Held, yes [Para 8 & 9] [In favour of assessee] Ld. AR also relied upon the judgment of Hon’ble Delhi9 High Court in the case of CIT vrs. Tosha International Ltd, [2009] 176 Taxmann 187 (Delhi),wherein it was held as under:- 22 I.T.A. No. 637/Mum/2012 M/s K. Bhatia Corporation Section 41(1), read with sections 2(24) and 28(iv), of the Income-tax Act, 1961 - Remission or cessation of trading liability - Assessment year 2001-02 - Assessee- company having incurred huge losses ultimately became a sick company and got registered…

MAWANA SUGARS LTD.,NEW DELHI vs. DCIT, NEW DELHI

ITA 5614/DEL/2010[2007-08]Status: DisposedITAT Delhi28 May 2018AY 2007-08

Bench: Hon’Ble, Shri G.D. Agrawal & Shri Kuldip Singh

…nt made in Siel Limited as well as loan / advances receivable from Siel Limited and Siel Holdings Limited. Hence, AO is directed to delete the disallowance of Rs.1,23,90,639/-.” Hon’ble Delhi High Court in case cited as CIT vs. Tosha 22. International Ltd. – 331 ITR 440 (Delhi) held that when the assessee has provided interest free advances to its subsidiary ITA No.751 & 752/Del/2012 CO No.153, 154 & 379/Del/2012 companies out of funds borrowed by it on interest but at the relevant time the assessee was having adequate non-interest bearing funds in the form of share capital and reserves, the advances made to su…

DCIT, NEW DELHI vs. M/S. MAWANA SUGARS LTD., NEW DELHI

ITA 1479/DEL/2010[2006-07]Status: DisposedITAT Delhi28 May 2018AY 2006-07

Bench: Hon’Ble, Shri G.D. Agrawal & Shri Kuldip Singh

DCIT, NEW DELHI vs. M/S. MAWANA SUGARS LTD., NEW DELHI

ITA 1463/DEL/2010[2005-06]Status: DisposedITAT Delhi28 May 2018AY 2005-06

Bench: Hon’Ble, Shri G.D. Agrawal & Shri Kuldip Singh

RITEPLAZA TRADING COMPANY PRIVATE LIMITED ,MUMBAI vs. INCOME TAX OFFICER 1(3)(1), MUMBAI

In the result, appeal filed by the assessee is allowed for

ITA 5558/MUM/2017[2014-15]Status: DisposedITAT Mumbai26 Apr 2018AY 2014-15

Bench: Shri Joginder Singh () & Shri G Manjunatha ()

Section 133(6)Section 143(2)Section 41(1)Section 68

…sore Agencies (P) Ltd 114 ITR 852 (Kar) 5. Cipla Investments Ltd 33 SOT 317 (OM) 6. Airline Allied Services Ltd 2017) 167 ITD 717 (Del-Trib) 7. Bombay Gas Co Ltd (2012) 54 SOT 13 (Mum) 8. Samrat Rice Mills (P) Ltd 54 SOT 1 (Del) 9. Tosha International Ltd 331 ITR 440 (Del) 10.Suretech Hospital & Research Centre Ltd 293 ITR 53 (Bom) 11.Prabhavati S Shah 231 ITR 1 (Bom) 6. On the other hand, the Ld.DR supporting the order of CIT(A) submitted that the assessee derived benefit out of remission or cessation of liability towards loan received from M/s Om Metal Infraprojects Ltd which is evident from the fact t…

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