5) PGBP Part 2- Deemed Profit section 41(1) & 41(2)
Topic Covered:
1) Section 41(1)
2) Section 41(2)
Case Laws:
A) J K Synthetics Ltd (SC)
B) Polyflex India (P) Ltd. Vs. CIT
C) Rollatainers Ltd. Vs. CIT (Delhi)
Remission of personal loan is covered u/s 56(2)(x)- Gift and chargeable under the head Income from Other Sources.