https://www.taxtmi.com/caselaws?id=181675 The Tribunal dismissed the assessee-company's appeals for assessment years 1994-95 to 1999-2000, affirming the CIT (A) -II, Agra's decision that "hire charges" were taxable as "interest" under the Interest Tax Act. The Tribunal upheld the Revenue's appeal for 1998-99, overturning the CIT (A) -I, Agra's favorable order for the assessee. It concluded the transactions were financing in nature, not genuine hire purchase agreements, thus subject to interest tax. en-us Thu, 14 Aug 2003 00:00:00 +0530 Fri, 09 Aug 2024 12:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181675 The Tribunal dismissed the assessee-company's appeals for assessment years 1994-95 to 1999-2000, affirming the CIT (A) -II, Agra's decision that "hire charges" were taxable as "interest" under the Interest Tax Act. The Tribunal upheld the Revenue's appeal for 1998-99, overturning the CIT (A) -I, Agra's favorable order for the assessee. It concluded the transactions were financing in nature, not genuine hire purchase agreements, thus subject to interest tax. Case-Laws Income Tax Thu, 14 Aug 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181675