https://www.taxtmi.com/caselaws?id=17410 The High Court of Allahabad ruled in favor of the assessee, allowing the deduction under section 80L of the Income-tax Act for the partner's share income from a registered firm. The court emphasized that the character of income remains consistent before and after allocation to individual partners, aligning with previous judicial precedents and decisions in similar cases. The decision was based on the interpretation of sections 67(2) and 80L(1) of the Act, affirming the entitlement of the individual partner to the claimed deduction for interest income from the firm. en-us Thu, 17 Apr 1997 00:00:00 +0530 Tue, 22 Sep 2009 12:29:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17410 The High Court of Allahabad ruled in favor of the assessee, allowing the deduction under section 80L of the Income-tax Act for the partner's share income from a registered firm. The court emphasized that the character of income remains consistent before and after allocation to individual partners, aligning with previous judicial precedents and decisions in similar cases. The decision was based on the interpretation of sections 67(2) and 80L(1) of the Act, affirming the entitlement of the individual partner to the claimed deduction for interest income from the firm. Case-Laws Income Tax Thu, 17 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17410