https://www.taxtmi.com/caselaws?id=16138 The High Court of Allahabad held that the interest received by the assessee under an arbitration award was a revenue receipt attributable to its business activities and therefore subject to tax. The Court rejected the assessee's argument that the interest was ex gratia, emphasizing that it was an accretion to the business receipts and should be taxed accordingly. Relying on legal precedents distinguishing between types of interest payments, the Court concluded that the interest in question was not exempt from taxation, ruling in favor of the Revenue and against the assessee. en-us Tue, 23 Dec 1997 00:00:00 +0530 Tue, 01 Sep 2009 13:21:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16138 The High Court of Allahabad held that the interest received by the assessee under an arbitration award was a revenue receipt attributable to its business activities and therefore subject to tax. The Court rejected the assessee's argument that the interest was ex gratia, emphasizing that it was an accretion to the business receipts and should be taxed accordingly. Relying on legal precedents distinguishing between types of interest payments, the Court concluded that the interest in question was not exempt from taxation, ruling in favor of the Revenue and against the assessee. Case-Laws Income Tax Tue, 23 Dec 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16138