https://www.taxtmi.com/caselaws?id=195419 The Tribunal upheld the CIT(A)'s decision to delete the addition of interest on the partner's debit balance, emphasizing the absence of actual interest payments and the notional nature of the income. The Tribunal also clarified that the concept of deemed dividend does not apply to partnership firms, leading to the dismissal of the Revenue's appeal. en-us Tue, 27 Aug 2013 00:00:00 +0530 Mon, 30 Oct 2017 15:00:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=195419 The Tribunal upheld the CIT(A)'s decision to delete the addition of interest on the partner's debit balance, emphasizing the absence of actual interest payments and the notional nature of the income. The Tribunal also clarified that the concept of deemed dividend does not apply to partnership firms, leading to the dismissal of the Revenue's appeal. Case-Laws Income Tax Tue, 27 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=195419