Levy of interest tax on interest under Interest Tax Act, 1974 - ...
Court Rules Finance Charges as Interest, Subject to Interest Tax Under Interest Tax Act, 1974.
December 18, 2013
Case Laws Income Tax HC
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
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