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Bombay HC: Can’t Treat Amount of Subsidy Received by Assessee from RBI as ‘Interest’ under IT Act - (17 Jun 2025)

DIRECT TAXATION

Bom. HC has observed that the amount of subsidy received by the Assessee is not relatable in loan or advance given by the assessee to the RBI and therefore, the amount of subsidy can neither be treated as commitment charges nor discount on promissory notes on bill of exchange drawn or made in India.

Tags : BOMBAY HIGH COURT   BILL OF EXCHANGE   PROMISSORY NOTES  

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