settlement scheme

RBI circular on extension of last date under Agricultural Debt Waiver and Debt Relief Scheme, 2008

RBI/2009-10/145 UBD.BPD.PCB.Cir.No 8 /13.05.006/2009-10 Dated: September 3, 2009 The Chief Executive Officer, All Primary (Urban) Co-operative Banks Dear Sir/Madam, Budget Announcement 2009-10-Extension of last date under One Time Settlement Scheme (Under Agricultural Debt Waiver and Debt Relief Scheme, 2008) upto December 31, 2009
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Term Loan waiver availed by the assessee is not assessable income

SUMMARY OF CASE LAW The waiver amount of term loan availed by the assessee does not partake the character of assessable income either under section 28(iv) or under section 41(1) of the Income-tax Act, 1961. CASE LAW DETAILS Decided by: ITAT, COCHIN BENCH, COCHIN, In The case of: Accelerated Freez & Drying Co. Ltd.V.DCIT, Appeal No.: ITA [...]
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Rationalisation of revised Settlement Scheme

The Finance Act, 2007 carried out a comprehensive amendment to the scheme of settlement of cases. This scheme provides for abatement of proceedings before the Settlement Commission under various circumstances. In order to deal with the various issues that may arise in the event of abatement of proceedings before the Settlement Commission, an amendment has [...]
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