https://www.taxtmi.com/caselaws?id=70860 The Tribunal upheld the disallowance of interest paid to partners under Section 40(b), ruling that interest paid to partners in their individual capacities is not deductible, even if they represent their HUFs in the firm. The disallowance of Rs. 3,000 in the bardana account was also confirmed, with no further detailed analysis provided on this issue. The appeal was allowed in part, primarily addressing the interest disallowance issue comprehensively. en-us Sat, 29 Dec 1984 00:00:00 +0530 Tue, 19 Apr 2011 17:13:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70860 The Tribunal upheld the disallowance of interest paid to partners under Section 40(b), ruling that interest paid to partners in their individual capacities is not deductible, even if they represent their HUFs in the firm. The disallowance of Rs. 3,000 in the bardana account was also confirmed, with no further detailed analysis provided on this issue. The appeal was allowed in part, primarily addressing the interest disallowance issue comprehensively. Case-Laws Income Tax Sat, 29 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70860