https://www.taxtmi.com/caselaws?id=171856 Section 2(7) of the Interest-tax Act, 1974 was treated as an exhaustive charging definition because it uses "means and includes", so only interest on loans and advances, and the specifically added items of commitment charges and discounts on promissory notes and bills of exchange, fell within its scope. Interest on debentures, bonds and Government securities was not expressly covered, and the earlier exclusion of securities could not expand the charging provision by implication. The statute was therefore understood to target financing transactions, not investment returns from securities, and interest on such securities was not chargeable to interest-tax. en-us Tue, 20 Mar 2001 00:00:00 +0530 Thu, 06 Aug 2015 13:01:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=171856 Section 2(7) of the Interest-tax Act, 1974 was treated as an exhaustive charging definition because it uses "means and includes", so only interest on loans and advances, and the specifically added items of commitment charges and discounts on promissory notes and bills of exchange, fell within its scope. Interest on debentures, bonds and Government securities was not expressly covered, and the earlier exclusion of securities could not expand the charging provision by implication. The statute was therefore understood to target financing transactions, not investment returns from securities, and interest on such securities was not chargeable to interest-tax. Case-Laws Income Tax Tue, 20 Mar 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=171856