https://www.taxtmi.com/caselaws?id=325188 The court held that liquidated damages payable in case of default in loan repayment qualify for exemption under Section 10(23G) of the Income Tax Act as they fall under the definition of "interest." Debt syndication fees and debenture trusteeship fees were also considered as "interest" and eligible for exemption under Section 10(23G). The court ruled that deductions under Section 36(1)(viia)(c) and Section 36(1)(viii) should be computed independently. Consequently, all questions of law were answered in favor of the assessee, and the tax case appeals were allowed without imposing costs. en-us Tue, 08 Sep 2015 00:00:00 +0530 Tue, 07 Jul 2026 14:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325188 The court held that liquidated damages payable in case of default in loan repayment qualify for exemption under Section 10(23G) of the Income Tax Act as they fall under the definition of "interest." Debt syndication fees and debenture trusteeship fees were also considered as "interest" and eligible for exemption under Section 10(23G). The court ruled that deductions under Section 36(1)(viia)(c) and Section 36(1)(viii) should be computed independently. Consequently, all questions of law were answered in favor of the assessee, and the tax case appeals were allowed without imposing costs. Case-Laws Income Tax Tue, 08 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325188