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Discounting charges not amounts to interest and taxable as business income
Case Law Details
- Case Name
- Director of Income-tax, International Taxation Vs Cargil TSF PTE Ltd. (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
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HIGH COURT OF DELHI
Director of Income-tax, International Taxation
versus
Cargil TSF PTE Ltd.
IT APPEAL NOS. 621 TO 624 OF 2012
C.M. APPL. NO. 18532 OF 2012
NOVEMBER 19, 2012
JUDGMENT
1. The present appeals are directed against the three orders of the Income Tax Appellate Tribunal (ITAT) dated 19.08.2011 for the Assessment Years 2005-06, 2006-07 and 2007-08. The question of law sought to be urged on behalf of the Revenue is:
“Whether the Tribunal fell into error in holding that the discounting charges earned by the assessee from Indian parties by discounting bills of ex...
