1984 (10) TMI 20 - HC - Income Tax

Extract:
.......r, we are satisfied that the Tribunal is justified in holding that, in computing the total income of the assessee-firm, only the net amount of interest paid to its partners can be added back. We accordingly answer the question in the affirmative, that is to say, in favour of the assessee and against the Revenue. There shall be no order as to costs.