https://www.taxtmi.com/caselaws?id=15124 The court ruled in favor of the assessee in the tax case, allowing interest payments made to partners in their capacity as kartas representing their Hindu undivided families as deductible under section 40(b) of the Income-tax Act. However, in the writ petition, the court upheld the disallowance of interest claimed by partners acting as kartas, emphasizing the distinction from individual deposits. The judgment underscored the significance of partners' capacities in receiving interest payments, guided by legal principles established in prior court decisions. en-us Thu, 02 Apr 1998 00:00:00 +0530 Mon, 03 Aug 2009 11:57:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15124 The court ruled in favor of the assessee in the tax case, allowing interest payments made to partners in their capacity as kartas representing their Hindu undivided families as deductible under section 40(b) of the Income-tax Act. However, in the writ petition, the court upheld the disallowance of interest claimed by partners acting as kartas, emphasizing the distinction from individual deposits. The judgment underscored the significance of partners' capacities in receiving interest payments, guided by legal principles established in prior court decisions. Case-Laws Income Tax Thu, 02 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15124