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TMI Blog1968 (8) TMI 41X X X X Extracts X X X X X X X X Extracts X X X X ..... year 1959-60. The assessee is a firm doing business in textile goods at Alleppey. One of the partners of the firm is S. Veeriah Reddiar. Previously the firm had business in Bombay also which was mainly for purchasing goods there for trade at Alleppey. The business at Bombay was found to be a losing concern. By an agreement entered into between the partners on July 15, 1957, the partnership was dissolved in respect of the business at Bombay and S. Veeriah Reddiar became the sole proprietor of that business. During the relevant accounting period the total value of the goods purchased and despatched by the Bombay business to customers amounted to Rs. 48,03,852. Out of it a portion represented value of goods despatched to the assessee at Alle ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pted. This must establish the assessee's case conclusively. If they looked to all the partners of the assessee-firm and not only Veeriah Reddiar for payment of their hundials, in our opinion, the assessee is entitled to the deduction claimed as interest paid by the assessee to the Bombay parties ultimately. The Income-tax Officer shall satisfy himself through affidavits to be filed by the assessee from the Bombay parties and allow the deduction. 10. We direct the Income-tax Officer to amend the assessment and those of the partners accordingly. 11. The appeal is allowed. " The material part of section 10(4)(b) of the Income-tax Act, 1922, relied upon by the department to show that payment of interest by a firm to one of the partners was n ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... against the Crown or that there is to be any discrimination against the Crown in such Acts. It means this, I think ; it means that in taxation you have to look simply at what is clearly said. There is no room for any intendment, there is no equity about a tax ; there is no presumption as to a tax ; you read nothing in ; you imply nothing, but you look fairly at what is said ; and at what is said clearly and that is the tax. Looking, then, fairly at what has been said, it is clear that there is no distinction made between payments by way of interest, commission, salary or remuneration made to a partner as a partner and made to him in a different character. There is nothing to indicate that some categories of interest, salary, commission or ..... X X X X Extracts X X X X X X X X Extracts X X X X
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