https://www.taxtmi.com/caselaws?id=26745 The court ruled in favor of the assessee, a Hindu undivided family karta, allowing the deduction of interest paid to his son from partnership firms' capital post-partition. The court held that the interest received by the assessee belonged to his son due to a partition deed, permitting the deduction under section 37. The court found an obligation for the father to share half of the interest with his son, rejecting a claim for interest on the son's credit balance but allowing half of the interest on the total share capital. The court did not address the other issues raised, ultimately allowing the deduction of interest belonging to the son. en-us Tue, 04 Dec 1984 00:00:00 +0530 Mon, 08 Feb 2010 12:32:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26745 The court ruled in favor of the assessee, a Hindu undivided family karta, allowing the deduction of interest paid to his son from partnership firms' capital post-partition. The court held that the interest received by the assessee belonged to his son due to a partition deed, permitting the deduction under section 37. The court found an obligation for the father to share half of the interest with his son, rejecting a claim for interest on the son's credit balance but allowing half of the interest on the total share capital. The court did not address the other issues raised, ultimately allowing the deduction of interest belonging to the son. Case-Laws Income Tax Tue, 04 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26745