https://www.taxtmi.com/caselaws?id=61331 The Tribunal allowed the appeal, overturning the deletion of interest paid by the assessee-firm on capital contributed by a partner. Relying on a Full Bench decision, the Tribunal held that interest paid to an HUF should be disallowed, while interest paid in the partner's individual account must be disallowed. The decision emphasized the importance of legal precedents and the impact of Full Bench decisions in resolving conflicting interpretations of the law, ultimately favoring the Revenue's position. en-us Fri, 19 Jul 1985 00:00:00 +0530 Wed, 12 Jan 2011 12:24:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61331 The Tribunal allowed the appeal, overturning the deletion of interest paid by the assessee-firm on capital contributed by a partner. Relying on a Full Bench decision, the Tribunal held that interest paid to an HUF should be disallowed, while interest paid in the partner's individual account must be disallowed. The decision emphasized the importance of legal precedents and the impact of Full Bench decisions in resolving conflicting interpretations of the law, ultimately favoring the Revenue's position. Case-Laws Income Tax Fri, 19 Jul 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61331