https://www.taxtmi.com/caselaws?id=306018 The court dismissed the appeal regarding whether interest received on delayed payment of installments under a hire purchase agreement is subject to interest tax. It was held that such interest does not fall under interest received on loans or advances, thus not taxable. The court directed the Revenue to file necessary documents for the first issue on net versus gross discounting income under the Interest Tax Act, 1974. en-us Wed, 28 Mar 2007 00:00:00 +0530 Thu, 05 Jan 2023 13:07:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=306018 The court dismissed the appeal regarding whether interest received on delayed payment of installments under a hire purchase agreement is subject to interest tax. It was held that such interest does not fall under interest received on loans or advances, thus not taxable. The court directed the Revenue to file necessary documents for the first issue on net versus gross discounting income under the Interest Tax Act, 1974. Case-Laws Income Tax Wed, 28 Mar 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=306018