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1989 (3) TMI 91 - HC - Income TaxExtract: ....... we are of the opinion that the Tribunal erred in law in disallowing interest under section 40(b) paid to the three individuals who were partners not in their individual capacities, but on behalf of their Hindu undivided families as kartas. The referred question is answered in favour of the assessee and in the affirmative with no order as to costs.
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