https://www.taxtmi.com/caselaws?id=174955 The High Court held that the respondent-assessee qualifies as a loan company under section 2(5B)(iv) of the Interest Tax Act, primarily deriving income from interest on loans. The Tribunal's reversal of the Commissioner's order was deemed incorrect as the interest received was chargeable under section 4 of the Act. The Court also noted that the Tribunal's decision to allow appeals while related appeals were pending was premature and unjustified. Consequently, the High Court allowed all four appeals in favor of the revenue. en-us Sat, 23 Oct 2010 00:00:00 +0530 Sat, 31 Oct 2015 09:30:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174955 The High Court held that the respondent-assessee qualifies as a loan company under section 2(5B)(iv) of the Interest Tax Act, primarily deriving income from interest on loans. The Tribunal's reversal of the Commissioner's order was deemed incorrect as the interest received was chargeable under section 4 of the Act. The Court also noted that the Tribunal's decision to allow appeals while related appeals were pending was premature and unjustified. Consequently, the High Court allowed all four appeals in favor of the revenue. Case-Laws Income Tax Sat, 23 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174955