https://www.taxtmi.com/caselaws?id=247310 The court affirmed that hire charges under the hire purchase agreement were considered interest on loans and advances, making them taxable under the Interest Tax Act, 1974. The decision was influenced by a previous ruling by the Division Bench, establishing a precedent. The court rejected the appellant's arguments, dismissing the appeals and upholding the taxation of hire charges as interest, in line with legal principles and precedents. en-us Mon, 05 May 2014 00:00:00 +0530 Thu, 08 May 2014 12:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247310 The court affirmed that hire charges under the hire purchase agreement were considered interest on loans and advances, making them taxable under the Interest Tax Act, 1974. The decision was influenced by a previous ruling by the Division Bench, establishing a precedent. The court rejected the appellant's arguments, dismissing the appeals and upholding the taxation of hire charges as interest, in line with legal principles and precedents. Case-Laws Income Tax Mon, 05 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247310