https://www.taxtmi.com/caselaws?id=39126 The Tribunal held that interest paid by a firm to a Hindu undivided family, represented by its karta, was not deductible under section 40(b) of the Income-tax Act. The Tribunal found that the interest payment was made to the family, not the partner, and thus not covered by the provision. The court concluded that as the investment always belonged to the family, the legal question did not apply. The case was dismissed without costs. en-us Wed, 12 Nov 1975 00:00:00 +0530 Tue, 13 Apr 2010 11:01:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39126 The Tribunal held that interest paid by a firm to a Hindu undivided family, represented by its karta, was not deductible under section 40(b) of the Income-tax Act. The Tribunal found that the interest payment was made to the family, not the partner, and thus not covered by the provision. The court concluded that as the investment always belonged to the family, the legal question did not apply. The case was dismissed without costs. Case-Laws Income Tax Wed, 12 Nov 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39126