https://www.taxtmi.com/caselaws?id=181893 Unpaid purchase money under a compromise decree did not become a loan merely because it was made payable partly by instalments with interest and secured by a charge on the property. Relief under the Bengal Money Lenders Act required proof that the parties stood in a borrower-lender relationship and that the debt was, in substance, a loan. As no agreement or factual basis showed conversion of the original sale consideration into a loan, the amount remained unpaid price rather than borrowed money. Section 30 relief was therefore unavailable, and prior authorities were distinguished on the ground that they involved treatment of the original price as a loan or its equivalent. en-us Sat, 24 May 1997 00:00:00 +0530 Thu, 29 Dec 2016 18:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181893 Unpaid purchase money under a compromise decree did not become a loan merely because it was made payable partly by instalments with interest and secured by a charge on the property. Relief under the Bengal Money Lenders Act required proof that the parties stood in a borrower-lender relationship and that the debt was, in substance, a loan. As no agreement or factual basis showed conversion of the original sale consideration into a loan, the amount remained unpaid price rather than borrowed money. Section 30 relief was therefore unavailable, and prior authorities were distinguished on the ground that they involved treatment of the original price as a loan or its equivalent. Case-Laws Indian Laws Sat, 24 May 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181893