https://www.taxtmi.com/caselaws?id=463142 Finance charges, hire purchase charges and default interest arising from such transactions were treated as taxable interest because they fell within the charge already recognised by prior authority, and the Revenue's position was upheld on that issue. Interest received from the Government under the Bhadratha Deposit Scheme was treated as consideration for services connected with the scheme, not interest on loans or advances, and interest relatable to employee loans was treated as a service-condition benefit rather than commercial lending; those receipts were therefore excluded from the taxable base. The assessment was directed to be revised accordingly. en-us Mon, 23 Mar 2009 00:00:00 +0530 Fri, 08 Aug 2025 11:12:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463142 Finance charges, hire purchase charges and default interest arising from such transactions were treated as taxable interest because they fell within the charge already recognised by prior authority, and the Revenue's position was upheld on that issue. Interest received from the Government under the Bhadratha Deposit Scheme was treated as consideration for services connected with the scheme, not interest on loans or advances, and interest relatable to employee loans was treated as a service-condition benefit rather than commercial lending; those receipts were therefore excluded from the taxable base. The assessment was directed to be revised accordingly. Case-Laws Income Tax Mon, 23 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463142