No OTS, No Write-Back: ARC Haircut Can’t Trigger Section 41(1)

DCIT Vs Rudra Buildwell Homes Private Limited (ITAT Delhi) No OTS, No Waiver, No 41(1)- ARC Haircut Is Lender’s Loss, Not Borrower’s Income:  Loan Assignment at Discount ≠ Cessation of Liability-Delhi ITAT Rejects ₹71.34 Cr u/s 41(1)- Delhi ITAT ‘G’ Bench in DCIT  vs Rudra Buildwell Homes Pvt Ltd & Rudra Buildwell Projects Pvt Ltd (ITA Nos.4119 & 4118/Del/2025, AY 2022-23, order dated 24-12-2025) dismissed Revenue’s appeals and upheld deletion of a huge addition of ₹71.34 crore u/s 41(1), holding that assignment of a loan to an Asset Reconstruction Company (ARC) at a ...