https://www.taxtmi.com/caselaws?id=36438 The High Court of Madras upheld the disallowance of interest payments to partners representing their Hindu undivided families (HUFs) under section 40(b) of the Income-tax Act. The court clarified that payments made to partners in their personal capacity, even when acting as kartas of their HUFs, are subject to the provisions of section 40(b) as partners in the firm. The judgment emphasized the distinction between payments to individual partners and payments to HUFs, maintaining that interest payments related to the partner's role within the partnership are governed by section 40(b). en-us Wed, 16 Apr 1980 00:00:00 +0530 Mon, 22 Mar 2010 13:19:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36438 The High Court of Madras upheld the disallowance of interest payments to partners representing their Hindu undivided families (HUFs) under section 40(b) of the Income-tax Act. The court clarified that payments made to partners in their personal capacity, even when acting as kartas of their HUFs, are subject to the provisions of section 40(b) as partners in the firm. The judgment emphasized the distinction between payments to individual partners and payments to HUFs, maintaining that interest payments related to the partner's role within the partnership are governed by section 40(b). Case-Laws Income Tax Wed, 16 Apr 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36438