https://www.taxtmi.com/caselaws?id=338843 The ITAT Chennai upheld the validity of partnerships formed by individuals representing Hindu Undivided Family (HUF) and trusts, dismissing the Revenue's appeal. The court emphasized that even if a person represented an HUF, they could be considered a partner in their individual capacity. The decision was based on the interpretation of partnership deeds and established legal precedents, affirming the genuineness of the partnerships and rejecting the disallowance claim under Section 40(b) of the Income-tax Act. en-us Fri, 03 Feb 2017 00:00:00 +0530 Mon, 13 Feb 2017 10:04:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338843 The ITAT Chennai upheld the validity of partnerships formed by individuals representing Hindu Undivided Family (HUF) and trusts, dismissing the Revenue's appeal. The court emphasized that even if a person represented an HUF, they could be considered a partner in their individual capacity. The decision was based on the interpretation of partnership deeds and established legal precedents, affirming the genuineness of the partnerships and rejecting the disallowance claim under Section 40(b) of the Income-tax Act. Case-Laws Income Tax Fri, 03 Feb 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338843