Section 193

(1) Where a deduction has been allowed under the provisions of this
refund of Act in respect of any liability or any expense incurred and the liability is waived
liability or
or released or such expense is refunded in whole or in part, the amount of that
expenses
liability or expense which is waived, released or refunded, shall be an income
on the day of the waiver, release or refund.
(2) Where any liability or expenditure of capital nature is waived, it shall
constitute a chargeable gain for the purposes of Part VIII of Chapter Two of
this Act.
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