Dear All,
One of my client had sold goods to one party. Now, on default of that party, the company filed a suit against them and received excess amount than receivable which can be regarded as interest. Now, what will be the treatment of such excess amount received ?
Thank you.
it would be taxable.
Triveni Turbine Limited
Bengaluru
CA
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Boutique Investment Bank & Transaction Advisory Firm
Gurgaon
CA
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O P Bagla & Co LLP
New Delhi
CA Inter
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CAclubindia
