S.36(1)(iii) – ‘LC discounting charges’ would not fall within the ambit of ‘interest’ and hence, ‘section 36(1)(iii)’ of the Act cannot be pressed into service for disallowing such LC discounting charges. Further, ‘advances given for purchase of material’ cannot be treated as ‘interest-free advances’ so as to invoke the provisions of S.36(1)(iii) of the Act.