https://www.taxtmi.com/caselaws?id=29203 The court ruled in favor of the assessee, holding that the interest paid on funds allocated for the wife and minor daughters of the Hindu Undivided Family (HUF) was a legitimate deduction under section 36(1)(iii) of the Income-tax Act, 1961. The partition deed clearly specified amounts for maintenance, education, and marriage expenses for the wife and minor daughters, which were utilized in the family business by the karta. The court recognized these allocations as provisions for maintenance and upheld the deduction of interest paid on the allocated funds. The Department was ordered to cover the costs, including the advocate's fee. en-us Fri, 25 Nov 1977 00:00:00 +0530 Thu, 11 Mar 2010 13:46:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29203 The court ruled in favor of the assessee, holding that the interest paid on funds allocated for the wife and minor daughters of the Hindu Undivided Family (HUF) was a legitimate deduction under section 36(1)(iii) of the Income-tax Act, 1961. The partition deed clearly specified amounts for maintenance, education, and marriage expenses for the wife and minor daughters, which were utilized in the family business by the karta. The court recognized these allocations as provisions for maintenance and upheld the deduction of interest paid on the allocated funds. The Department was ordered to cover the costs, including the advocate's fee. Case-Laws Income Tax Fri, 25 Nov 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29203