https://www.taxtmi.com/caselaws?id=205307 An amount received on deferred payment of auction sale price, though described as interest, was treated as part of the transfer consideration because it was intrinsically connected with the transfer of a capital asset. The label used by the parties was not decisive; for capital gains purposes, sections 45(1) and 48 require inclusion of all sums accruing as a result of the transfer. The amount was not statutory interest under section 2(28A), since it did not arise from borrowed money or a debt. It was therefore assessable as capital gains, not as income from other sources, and the contrary assessment was unsustainable. en-us Fri, 30 Jul 2010 00:00:00 +0530 Wed, 22 Jun 2011 12:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=205307 An amount received on deferred payment of auction sale price, though described as interest, was treated as part of the transfer consideration because it was intrinsically connected with the transfer of a capital asset. The label used by the parties was not decisive; for capital gains purposes, sections 45(1) and 48 require inclusion of all sums accruing as a result of the transfer. The amount was not statutory interest under section 2(28A), since it did not arise from borrowed money or a debt. It was therefore assessable as capital gains, not as income from other sources, and the contrary assessment was unsustainable. Case-Laws Income Tax Fri, 30 Jul 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=205307