https://www.taxtmi.com/caselaws?id=10931 The High Court ruled that the amount received by the nationalized bank from the Reserve Bank of India should be treated as interest for tax purposes, affirming the decisions of the lower authorities. The court emphasized that the payment was compensation for the interest rate difference and not a subsidy for export activities. Therefore, the court held in favor of the Revenue, highlighting the significance of the payment's substance in determining its tax treatment. en-us Mon, 21 Jun 2004 00:00:00 +0530 Tue, 28 Jul 2009 08:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10931 The High Court ruled that the amount received by the nationalized bank from the Reserve Bank of India should be treated as interest for tax purposes, affirming the decisions of the lower authorities. The court emphasized that the payment was compensation for the interest rate difference and not a subsidy for export activities. Therefore, the court held in favor of the Revenue, highlighting the significance of the payment's substance in determining its tax treatment. Case-Laws Income Tax Mon, 21 Jun 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10931