https://www.taxtmi.com/caselaws?id=66121 The Tribunal held that the assessee was a 'credit institution' under the Interest-tax Act as hire purchases were its principal business. Interest income from loans to sister concerns was deemed chargeable, while hire charges were not considered chargeable interest. The Tribunal allowed the appeals in part, confirming the chargeability of interest income from sister concerns but ruling that hire charges were not subject to interest tax. en-us Thu, 14 Dec 2000 00:00:00 +0530 Tue, 22 Feb 2011 11:37:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66121 The Tribunal held that the assessee was a 'credit institution' under the Interest-tax Act as hire purchases were its principal business. Interest income from loans to sister concerns was deemed chargeable, while hire charges were not considered chargeable interest. The Tribunal allowed the appeals in part, confirming the chargeability of interest income from sister concerns but ruling that hire charges were not subject to interest tax. Case-Laws Income Tax Thu, 14 Dec 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66121