https://www.taxtmi.com/caselaws?id=24711 The court held that the sum of Rs. 3,73,494 is not liable to be included in the computation of chargeable interest. Regarding the subsidy received from the Reserve Bank of India, the court determined that it should be considered as interest under the Interest-tax Act as it is related to the loan or advance being given and the lower rate of interest being charged. The court concluded that the subsidy is made towards interest, affirming the decision against the assessee. en-us Tue, 05 Jul 1988 00:00:00 +0530 Thu, 21 Jan 2010 18:20:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24711 The court held that the sum of Rs. 3,73,494 is not liable to be included in the computation of chargeable interest. Regarding the subsidy received from the Reserve Bank of India, the court determined that it should be considered as interest under the Interest-tax Act as it is related to the loan or advance being given and the lower rate of interest being charged. The court concluded that the subsidy is made towards interest, affirming the decision against the assessee. Case-Laws Income Tax Tue, 05 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24711