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of <h1>Interest payments to Hindu undivided family accounts of partners allowed under Income-tax Act</h1> The High Court of Madhya Pradesh held that interest paid to the Hindu undivided family accounts of the partners was not to be disallowed under section ... Business Expenditure, Firm The High Court of Madhya Pradesh ruled that interest paid to the Hindu undivided family accounts of the partners was not liable to be disallowed under section 40(b) of the Income-tax Act. The decision was based on a previous court ruling. The court's answer to the question was in the negative, in favor of the assessee.
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