https://www.taxtmi.com/caselaws?id=27021 The court ruled in favor of the assessee, holding that both interest and salary payments made to partners in their individual capacity were deductible and not disallowable under section 40(b) of the Income-tax Act, 1961. The court emphasized that payments made to partners in their individual capacity, separate from their representative capacity, are allowable deductions, following relevant precedents and legislative amendments supporting this interpretation. en-us Mon, 08 Oct 1984 00:00:00 +0530 Wed, 10 Feb 2010 12:22:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27021 The court ruled in favor of the assessee, holding that both interest and salary payments made to partners in their individual capacity were deductible and not disallowable under section 40(b) of the Income-tax Act, 1961. The court emphasized that payments made to partners in their individual capacity, separate from their representative capacity, are allowable deductions, following relevant precedents and legislative amendments supporting this interpretation. Case-Laws Income Tax Mon, 08 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27021