https://www.taxtmi.com/caselaws?id=39620 The court held that the interest on the unpaid purchase price was not taxable in the hands of the assessee as the agent of the non-resident company under section 9(1)(i) of the Income-tax Act, 1961. The court found that there was no business connection in India, and the unpaid purchase price did not constitute a loan. Therefore, the interest payable could not be considered as income from money lent at interest and brought into India. The decision favored the assessee, with costs awarded in their favor. en-us Mon, 23 Sep 1974 00:00:00 +0530 Mon, 19 Apr 2010 11:47:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39620 The court held that the interest on the unpaid purchase price was not taxable in the hands of the assessee as the agent of the non-resident company under section 9(1)(i) of the Income-tax Act, 1961. The court found that there was no business connection in India, and the unpaid purchase price did not constitute a loan. Therefore, the interest payable could not be considered as income from money lent at interest and brought into India. The decision favored the assessee, with costs awarded in their favor. Case-Laws Income Tax Mon, 23 Sep 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39620