Factoring charges on sale cannot be termed as interest & not comes within the purview of section 2(28A)

Brief Facts of the Case and Question of Law

Brief Facts:

♠ The assessee is a private limited company engaged in the business of manufacturing and trading in gold, diamond jewellery and bullion. For the relevant year, return of income was filed on 07.03.2010 declaring an income of Rs.2,79,89,810/-.

♠ The company had availed factoring facility from M/s. Global Trade Finance Limited (hereinafter referred to GTF) for which

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