https://www.taxtmi.com/caselaws?id=253721 The Supreme Court ruled in favor of the assessee bank in a case involving re-discount charges paid to RBI/IDBI, subsidy received from RBI, overdue interest on bills, and guarantee fees paid to DICGC. The Court held that the re-discount charges, subsidy, overdue interest, and guarantee fees were not chargeable as interest under the Interest Tax Act. Consequently, all four issues were decided in favor of the assessee bank against the revenue, and the appeals/references were disposed of with no order as to costs. en-us Wed, 12 Nov 2014 00:00:00 +0530 Mon, 01 Dec 2014 12:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=253721 The Supreme Court ruled in favor of the assessee bank in a case involving re-discount charges paid to RBI/IDBI, subsidy received from RBI, overdue interest on bills, and guarantee fees paid to DICGC. The Court held that the re-discount charges, subsidy, overdue interest, and guarantee fees were not chargeable as interest under the Interest Tax Act. Consequently, all four issues were decided in favor of the assessee bank against the revenue, and the appeals/references were disposed of with no order as to costs. Case-Laws Income Tax Wed, 12 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=253721