https://www.taxtmi.com/caselaws?id=16635 The High Court ruled in favor of the assessees in a case involving the validity of a partial partition under Hindu law. The court held that the partial partition of capital invested in a partnership firm is legally permissible, citing relevant precedents. It also determined that the interest income received by the Hindu undivided family from the partnership firm should not be altered for assessment purposes. Additionally, the court found that the disallowance of interest paid by the partnership firm to the family members was not justified. The court directed the transmission of the order to the Income-tax Appellate Tribunal, with each party bearing its own costs. en-us Wed, 11 Sep 1996 00:00:00 +0530 Wed, 09 Sep 2009 11:26:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16635 The High Court ruled in favor of the assessees in a case involving the validity of a partial partition under Hindu law. The court held that the partial partition of capital invested in a partnership firm is legally permissible, citing relevant precedents. It also determined that the interest income received by the Hindu undivided family from the partnership firm should not be altered for assessment purposes. Additionally, the court found that the disallowance of interest paid by the partnership firm to the family members was not justified. The court directed the transmission of the order to the Income-tax Appellate Tribunal, with each party bearing its own costs. Case-Laws Income Tax Wed, 11 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16635