https://www.taxtmi.com/caselaws?id=151767 The Tribunal ruled in favor of the appellant, finding that no interest was payable by the partnership firms to their partners due to the absence of profits. As per section 13(c) of the Indian Partnership Act, 1932, no right to receive interest accrued to the assessee, making the addition of Rs. 1,98,57,604 unsustainable. The appeal was allowed, and the addition was deleted. en-us Thu, 12 Jun 2008 00:00:00 +0530 Sat, 15 Jun 2013 16:38:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151767 The Tribunal ruled in favor of the appellant, finding that no interest was payable by the partnership firms to their partners due to the absence of profits. As per section 13(c) of the Indian Partnership Act, 1932, no right to receive interest accrued to the assessee, making the addition of Rs. 1,98,57,604 unsustainable. The appeal was allowed, and the addition was deleted. Case-Laws Income Tax Thu, 12 Jun 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151767