TMI BlogCourt Rules Finance Charges as Interest, Subject to Interest Tax Under Interest Tax Act, 1974.Levy of interest tax on interest under Interest Tax Act, 1974 - the transactins entered by the respondent assessee with the customer/hirer is a loan transaction and the finance charges were nothing but interest. - Decided against the assessee. - HC ..... X X X X Extracts X X X X X X X X Extracts X X X X
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