Bombay HC: Can’t Treat Amount of Subsidy Received by Assessee from RBI as ‘Interest’ under IT Act - 17.06.2025

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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