COMMISSIONER OF INCOME-TAX versus NAGPUR GOLDEN TRANSPORT CO.
Firm Partners The firm and its partners are two separate legal entities. Interest payments to a firm cannot be considered as interest payments to its partners, but payment of interest to one firm by another cannot be considered payment to the partners of that firm, although both are partners. The firms are General Indian Income Tax Act, 1961, Section 40 (b)
Find a Lawyer Near You
Dealing with a matter like this? Connect with a verified advocate in your city — free on SJP Lawyers Directory.
🔍 Find a Lawyer
online advocate from Quaidabad lawyer