https://www.taxtmi.com/caselaws?id=29665 The court upheld the disallowance of salary, interest, and bonus paid to a partner in a firm who is also a karta of his Hindu Undivided Family under section 40(b) of the Income Tax Act, 1961 for multiple assessment years. The court clarified that section 40(b) applies to disallow payments made by a firm to its partners regardless of how the partner receives the payment. The court differentiated between sections 40 and 67 of the Act and ruled in favor of the revenue, directing the assessee to pay the costs of the respondent. en-us Fri, 22 Jan 1982 00:00:00 +0530 Mon, 15 Mar 2010 13:58:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29665 The court upheld the disallowance of salary, interest, and bonus paid to a partner in a firm who is also a karta of his Hindu Undivided Family under section 40(b) of the Income Tax Act, 1961 for multiple assessment years. The court clarified that section 40(b) applies to disallow payments made by a firm to its partners regardless of how the partner receives the payment. The court differentiated between sections 40 and 67 of the Act and ruled in favor of the revenue, directing the assessee to pay the costs of the respondent. Case-Laws Income Tax Fri, 22 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29665