Nature of receipt of Penal interest - the additional amount ...

15% interest from August 2000 to November 2001 included in sale consideration, treated as capital gain, not interest income.

November 14, 2016

Case Laws     Income Tax     AT

Nature of receipt of Penal interest - the additional amount received by the assessee being 15% interest from 8.8.2000 to 22.11.2001 is part of sale consideration and accordingly will be treated as part of capital gain and not the income from interest. - AT

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