https://www.taxtmi.com/caselaws?id=37896 The High Court of Karnataka determined that the annual payments received by the assessee should be considered a combination of capital and interest. Only the portion representing interest was deemed taxable under the Income Tax Act, following the principle of distinguishing between capital and interest components for tax assessment. The Court directed the income tax authorities to ascertain the proportion of payments attributable to interest for tax calculation, with each party bearing their own costs. en-us Tue, 17 Oct 1978 00:00:00 +0530 Thu, 01 Apr 2010 16:30:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37896 The High Court of Karnataka determined that the annual payments received by the assessee should be considered a combination of capital and interest. Only the portion representing interest was deemed taxable under the Income Tax Act, following the principle of distinguishing between capital and interest components for tax assessment. The Court directed the income tax authorities to ascertain the proportion of payments attributable to interest for tax calculation, with each party bearing their own costs. Case-Laws Income Tax Tue, 17 Oct 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37896