https://www.taxtmi.com/caselaws?id=15510 The High Court ruled in favor of the assessee, stating that the provisions of section 40(b) of the Income-tax Act did not apply in the case involving the disallowance of interest paid to partners representing smaller Hindu undivided families. The court clarified that section 40(b) only pertains to interest paid to an individual as a partner in a representative capacity, which was not the situation with the smaller Hindu undivided families in this instance. The assessee was awarded costs of Rs. 750. en-us Thu, 02 Apr 1998 00:00:00 +0530 Tue, 25 Aug 2009 16:30:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15510 The High Court ruled in favor of the assessee, stating that the provisions of section 40(b) of the Income-tax Act did not apply in the case involving the disallowance of interest paid to partners representing smaller Hindu undivided families. The court clarified that section 40(b) only pertains to interest paid to an individual as a partner in a representative capacity, which was not the situation with the smaller Hindu undivided families in this instance. The assessee was awarded costs of Rs. 750. Case-Laws Income Tax Thu, 02 Apr 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15510