https://www.taxtmi.com/caselaws?id=187166 The High Court determined that the guarantee commission paid to a bank against the purchase of machinery through another financial institution was not of capital nature for the assessment year 1988-89. Despite conflicting opinions from various High Courts, the Court ruled in favor of the Revenue, citing relevant legal precedents and interpreting the nature of the guarantee commission in the context of machinery purchase through financial institutions. The decision favored the Revenue and went against the assessee based on the application of established legal principles. en-us Tue, 18 Jan 2005 00:00:00 +0530 Wed, 12 Oct 2016 15:30:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187166 The High Court determined that the guarantee commission paid to a bank against the purchase of machinery through another financial institution was not of capital nature for the assessment year 1988-89. Despite conflicting opinions from various High Courts, the Court ruled in favor of the Revenue, citing relevant legal precedents and interpreting the nature of the guarantee commission in the context of machinery purchase through financial institutions. The decision favored the Revenue and went against the assessee based on the application of established legal principles. Case-Laws Income Tax Tue, 18 Jan 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187166