https://www.taxtmi.com/caselaws?id=67495 The court held that the interest income received by partners from the partnership firm should not be taxed as it retains the character of business income and is exempt under section 80HHC. The court relied on a CBDT Circular and relevant case law to support this decision, stating that income retains its character when received by partners. Consequently, the appeals were allowed, and the interest income was not considered in the calculation of taxable income for the assessees. en-us Thu, 31 Dec 1992 00:00:00 +0530 Thu, 10 Mar 2011 18:36:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67495 The court held that the interest income received by partners from the partnership firm should not be taxed as it retains the character of business income and is exempt under section 80HHC. The court relied on a CBDT Circular and relevant case law to support this decision, stating that income retains its character when received by partners. Consequently, the appeals were allowed, and the interest income was not considered in the calculation of taxable income for the assessees. Case-Laws Income Tax Thu, 31 Dec 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67495