https://www.taxtmi.com/caselaws?id=16253 The court held that salary and interest paid to partners in their individual capacity should be added to the firm's income under section 40(b) of the Income-tax Act for the assessment year 1980-81. However, interest paid on Hindu undivided family credit balances should also be included under section 40(b) of the Act. The court differentiated between payments made to partners in their individual capacity versus as representatives of Hindu undivided families, clarifying the criteria for inclusion in the firm's income. en-us Mon, 16 Nov 1998 00:00:00 +0530 Fri, 04 Sep 2009 17:04:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16253 The court held that salary and interest paid to partners in their individual capacity should be added to the firm's income under section 40(b) of the Income-tax Act for the assessment year 1980-81. However, interest paid on Hindu undivided family credit balances should also be included under section 40(b) of the Act. The court differentiated between payments made to partners in their individual capacity versus as representatives of Hindu undivided families, clarifying the criteria for inclusion in the firm's income. Case-Laws Income Tax Mon, 16 Nov 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16253