https://www.taxtmi.com/caselaws?id=789585 The wide statutory definition of "interest" under the Income-tax Act can extend to liquidated damages, underwriting commission and structuring fees when they arise from or are connected with credit facilities, so those receipts may qualify for exemption as interest-related income. The article also notes that deductions under different clauses of section 36 operate independently: the deduction for profits from long-term finance is not required to be reduced first before granting the separate deduction for bad and doubtful debts. On that reasoning, both substantive issues were resolved in favour of the assessee, and the remaining questions were not pressed. en-us Tue, 20 Jan 2026 00:00:00 +0530 Fri, 10 Apr 2026 09:00:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=789585 The wide statutory definition of "interest" under the Income-tax Act can extend to liquidated damages, underwriting commission and structuring fees when they arise from or are connected with credit facilities, so those receipts may qualify for exemption as interest-related income. The article also notes that deductions under different clauses of section 36 operate independently: the deduction for profits from long-term finance is not required to be reduced first before granting the separate deduction for bad and doubtful debts. On that reasoning, both substantive issues were resolved in favour of the assessee, and the remaining questions were not pressed. Case-Laws Income Tax Tue, 20 Jan 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=789585