https://www.taxtmi.com/caselaws?id=27028 The court ruled in favor of the Department, holding that section 40(b) of the Income-tax Act, 1961 applied to the interest paid to partners in a firm, even if received in their representative capacity. The court emphasized that the key criterion was payment to a partner, irrespective of the capacity in which it was made. The Tribunal's decision allowing the deduction was overturned, and the Commissioner of Income-tax was awarded costs of Rs. 200. en-us Fri, 12 Oct 1984 00:00:00 +0530 Wed, 10 Feb 2010 12:34:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27028 The court ruled in favor of the Department, holding that section 40(b) of the Income-tax Act, 1961 applied to the interest paid to partners in a firm, even if received in their representative capacity. The court emphasized that the key criterion was payment to a partner, irrespective of the capacity in which it was made. The Tribunal's decision allowing the deduction was overturned, and the Commissioner of Income-tax was awarded costs of Rs. 200. Case-Laws Income Tax Fri, 12 Oct 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27028