https://www.taxtmi.com/caselaws?id=36831 The court ruled in favor of the assessee, holding that the remuneration paid by the HUF to its karta for managing the HUF's interests in partnership businesses was allowable as a deduction under section 37(1) of the Income Tax Act. The court found that the remuneration was for services rendered to the HUF, not the partnership firms, and the agreement was valid and reasonable. The revenue was directed to pay the costs of the assessee, and the court answered the reference in the negative, in favor of the assessee. en-us Tue, 12 Jul 1977 00:00:00 +0530 Wed, 24 Mar 2010 18:18:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36831 The court ruled in favor of the assessee, holding that the remuneration paid by the HUF to its karta for managing the HUF's interests in partnership businesses was allowable as a deduction under section 37(1) of the Income Tax Act. The court found that the remuneration was for services rendered to the HUF, not the partnership firms, and the agreement was valid and reasonable. The revenue was directed to pay the costs of the assessee, and the court answered the reference in the negative, in favor of the assessee. Case-Laws Income Tax Tue, 12 Jul 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36831