https://www.taxtmi.com/caselaws?id=458497 Interest paid by a firm to an individual partner was not disallowable under section 40(b) merely because the partner represented a Hindu Undivided Family as karta in the partnership. The Allahabad HC followed its earlier ruling on the same issue and treated the payment as interest to an individual partner, not as a payment attracting disallowance on the ground of HUF representation. The addition to the assessee's income was therefore rejected and the question was answered in favour of the assessee. en-us Mon, 25 Oct 2004 00:00:00 +0530 Mon, 04 Nov 2024 13:10:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458497 Interest paid by a firm to an individual partner was not disallowable under section 40(b) merely because the partner represented a Hindu Undivided Family as karta in the partnership. The Allahabad HC followed its earlier ruling on the same issue and treated the payment as interest to an individual partner, not as a payment attracting disallowance on the ground of HUF representation. The addition to the assessee's income was therefore rejected and the question was answered in favour of the assessee. Case-Laws Income Tax Mon, 25 Oct 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458497