1978 (1) TMI 90

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.... 1975-76 there are various grounds which are disposed of as under. 2. The first ground relates to the disallowance of a sum of Rs. 6,000 under the head interest account. The ITO disallowed interest of Rs. 6,000 as he found that the assessee had paid interest on borrowed capital and there was debit balance in the account of Ladulal Ajit Kumar Bukliwal, HUF, clearly associated with the partners o....

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....nds and not the one which he could have, but has not earned. 4. The Revenue, however, supported the lower authorities. On a careful consideration of the facts before us we find that the assessee is entitled to succeed on this point as the ITO has not given a finding what was the money which was borrowed and diverted towards the debit balances standing in the name of the joint family. There is n....

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.... they are. This ground of appeal is allowed and the amount of Rs. 6,000 is deleted form the total income. 5. The next ground relates to the disallowance of Rs. 3,000 under the head, "Gola Rent". This year the assessee had paid, as in the earlier years Rs. 9,000 as rent to the joint family Ladulal Ajit Kumar Bakliwal. The ITO disallowed part of the rent on the ground that the coparceners of the ....