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1. Search Case laws by Section / Act / Rule β now available beyond Income Tax. GST and Other Laws Available


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<h1>Interest disallowance by ITAT Delhi-C on payment by HUF to firm held allowable under section 80V -C</h1> The appeal was allowed as the interest disallowance of Rs. 2,815 paid by an HUF to a firm, where the Karta of the HUF was a partner, was held to be ... - The appeal was about the disallowance of interest amounting to Rs. 2,815 paid by an HUF to a firm where the Karta of the HUF was a partner. The interest disallowance was challenged under section 80V, which was initially not raised but later allowed by the ITAT Delhi-C. The Tribunal held that the interest was allowable under section 80V as it was essentially a borrowal from the firm for tax payments. The appeal was allowed.