https://www.taxtmi.com/caselaws?id=27808 The court ruled in favor of the assessee, determining that the interest paid to Shri C. S. Virani in his individual capacity should not be disallowed under section 40(b) of the Income Tax Act, 1961, as he was a partner representing the Hindu Undivided Family (HUF). The court overturned a previous decision and held that distinguishing between the partner's individual and representative capacities is crucial for tax assessment purposes. en-us Wed, 18 Apr 1984 00:00:00 +0530 Tue, 16 Feb 2010 11:52:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27808 The court ruled in favor of the assessee, determining that the interest paid to Shri C. S. Virani in his individual capacity should not be disallowed under section 40(b) of the Income Tax Act, 1961, as he was a partner representing the Hindu Undivided Family (HUF). The court overturned a previous decision and held that distinguishing between the partner's individual and representative capacities is crucial for tax assessment purposes. Case-Laws Income Tax Wed, 18 Apr 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27808