https://www.taxtmi.com/caselaws?id=3185 The court held that additional discount charges are not to be included in chargeable interest under the Interest Tax Act. Referring to precedent, the court determined that the Act only applies to interest on loans and advances, excluding additional discount charges which are considered premiums. As a result, the Tribunal's decision to exclude these charges from chargeable interest was upheld. The court found no substantial question of law and dismissed the appeals at the admission stage. en-us Tue, 27 Feb 2007 00:00:00 +0530 Tue, 29 Jul 2008 19:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3185 The court held that additional discount charges are not to be included in chargeable interest under the Interest Tax Act. Referring to precedent, the court determined that the Act only applies to interest on loans and advances, excluding additional discount charges which are considered premiums. As a result, the Tribunal's decision to exclude these charges from chargeable interest was upheld. The court found no substantial question of law and dismissed the appeals at the admission stage. Case-Laws Income Tax Tue, 27 Feb 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3185