https://www.taxtmi.com/caselaws?id=22199 Interest credited to a partner's Hindu undivided family, rather than to the partner personally, was treated as payment to a separate entity and not as payment to a partner of the firm. Applying an earlier Division Bench distinction between a partner in an individual capacity and the firm or HUF associated with him, the Rajasthan High Court noted that such interest did not fall outside deductibility on that ground. The interest was therefore allowable as a deduction to the firm under the Income-tax Act, 1961, and the issue was answered in favour of the assessee and against the Revenue. en-us Fri, 06 Jul 1990 00:00:00 +0530 Tue, 08 Dec 2009 10:42:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22199 Interest credited to a partner's Hindu undivided family, rather than to the partner personally, was treated as payment to a separate entity and not as payment to a partner of the firm. Applying an earlier Division Bench distinction between a partner in an individual capacity and the firm or HUF associated with him, the Rajasthan High Court noted that such interest did not fall outside deductibility on that ground. The interest was therefore allowable as a deduction to the firm under the Income-tax Act, 1961, and the issue was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Fri, 06 Jul 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22199