https://www.taxtmi.com/caselaws?id=22511 Interest awarded by an arbitrator in a contractual dispute was treated as an ex gratia component in the prevailing legal context and, on that basis, was not chargeable to tax as income. The fact that the principal award was characterised as a revenue receipt did not change the separate tax treatment of the interest component. The Court therefore held that the interest element in the arbitral award was not exigible to tax and answered the question in favour of the assessee. en-us Mon, 17 Jun 1991 00:00:00 +0530 Thu, 10 Dec 2009 17:15:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22511 Interest awarded by an arbitrator in a contractual dispute was treated as an ex gratia component in the prevailing legal context and, on that basis, was not chargeable to tax as income. The fact that the principal award was characterised as a revenue receipt did not change the separate tax treatment of the interest component. The Court therefore held that the interest element in the arbitral award was not exigible to tax and answered the question in favour of the assessee. Case-Laws Income Tax Mon, 17 Jun 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22511