https://www.taxtmi.com/caselaws?id=289432 The court ruled in favor of the partner of a registered partnership firm regarding the deductibility of interest payments on loans borrowed to finance the partnership business from their taxable income. However, the court ruled against the partner on the entitlement to earned income relief for not providing sufficient evidence of active engagement in the partnership business beyond basic tasks outlined in the partnership deed. As neither party wholly succeeded, no costs were awarded in the case. en-us Mon, 22 Aug 1960 00:00:00 +0530 Thu, 30 Jul 2020 15:21:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289432 The court ruled in favor of the partner of a registered partnership firm regarding the deductibility of interest payments on loans borrowed to finance the partnership business from their taxable income. However, the court ruled against the partner on the entitlement to earned income relief for not providing sufficient evidence of active engagement in the partnership business beyond basic tasks outlined in the partnership deed. As neither party wholly succeeded, no costs were awarded in the case. Case-Laws Income Tax Mon, 22 Aug 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289432