Court Rules Funds Not a "Loan" Under Interest-tax Act Section 2(7); Section 5 Inapplicable.

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....Interest Tax under section 5 of the Interest-tax Act - Once we find that monies given by the assessee to SWC did not fulfil the aforesaid criteria thereby bringing it within the expression "loan", the question of applicability of section 2(7) of the Interest-tax Act would not arise. - HC....