Case Name : Cit v. Ranoli investment (p.) Ltd. 

Citation : [1998] 146 Ctr (guj.) 745

Court : Gujarat high court

Section : 194 to 206c

Meaning : The words ‘at the time of credit of such income to the account of the payee’ in section 194a would take within their sweep the interest debited to ‘interest account’ or any other nominal account when the debit is for a specific amount calculated with reference to the deductor’s liability to a particular creditor in accordance with the terms and conditions of the loan.

Categorized in: