https://www.taxtmi.com/caselaws?id=25672 Interest paid to minors on gifts credited by partners through mere book entries was treated as business expenditure because the Tribunal found, on the facts, that the funds were used by the firm for its business and that the interest was incurred for business purposes. That factual finding supported allowance under section 37(1) of the Income-tax Act, 1961, and no referable question of law was considered to arise on the record. en-us Thu, 03 Jul 1986 00:00:00 +0530 Sat, 30 Jan 2010 11:13:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25672 Interest paid to minors on gifts credited by partners through mere book entries was treated as business expenditure because the Tribunal found, on the facts, that the funds were used by the firm for its business and that the interest was incurred for business purposes. That factual finding supported allowance under section 37(1) of the Income-tax Act, 1961, and no referable question of law was considered to arise on the record. Case-Laws Income Tax Thu, 03 Jul 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25672