https://www.taxtmi.com/highlights?id=3367 Nature of 'Usance Interest' – The nexus of interest was only with the period from which the purchase price of the raw material became due viz., the date of bill of lading. Therefore, usance interest, is interest within the meaning of sec. 2(28A) and same would be deemed to have accrued and arisen in India in view of the provisions of sec. 9(1)(v)(b) of the Act. - AT en-us Mon, 09 Apr 2012 10:17:08 +0530 Mon, 09 Apr 2012 10:17:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=3367 Nature of 'Usance Interest' – The nexus of interest was only with the period from which the purchase price of the raw material became due viz., the date of bill of lading. Therefore, usance interest, is interest within the meaning of sec. 2(28A) and same would be deemed to have accrued and arisen in India in view of the provisions of sec. 9(1)(v)(b) of the Act. - AT Highlights Income Tax Mon, 09 Apr 2012 10:17:08 +0530 https://www.taxtmi.com/highlights?id=3367