https://www.taxtmi.com/caselaws?id=61147 The Tribunal ruled in favor of the appellant in a case involving disallowance of interest paid to HUFs of partners under section 40(b) of the Income Tax Act, 1961. The Tribunal held that interest paid to HUFs cannot be considered as paid to the partners themselves for disallowance purposes. Additionally, the Tribunal rejected the addition of salary paid to partners without assessing its reasonableness under section 40A(2) of the Act. As a result, the appeals were partly allowed, and the disallowance of interest to HUFs and the addition of salary to partners were both overturned. en-us Mon, 20 Jul 1981 00:00:00 +0530 Tue, 11 Jan 2011 11:16:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61147 The Tribunal ruled in favor of the appellant in a case involving disallowance of interest paid to HUFs of partners under section 40(b) of the Income Tax Act, 1961. The Tribunal held that interest paid to HUFs cannot be considered as paid to the partners themselves for disallowance purposes. Additionally, the Tribunal rejected the addition of salary paid to partners without assessing its reasonableness under section 40A(2) of the Act. As a result, the appeals were partly allowed, and the disallowance of interest to HUFs and the addition of salary to partners were both overturned. Case-Laws Income Tax Mon, 20 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61147