Supreme Court · 1996 INSC 907 · Decided 20 August 1996
Commissioner of Income Tax Gujarat v. Shri Udayan Chinubhai and ORS.
- Court
- Supreme Court of India
- Citation
- 1996 INSC 907 · [1996] SUPP. 4 S.C.R. 789
- Case number
- CIVIL APPEAL No. 1595/1977
- Decided
- 20 August 1996
- Bench
- B.P. JEEVAN REDDY, S.C. SEN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 9(1)(1v); Succession Act Section 325
Headnote
B Indian Income Tax Act, 1922: Section 9(1)(1v). Income TCU'-AYs 1951-52, 1952-53 & 1954-55 to 1961-62-Unsecured loans-Deduction of interest paid on-HUF-Partition of-Properties and C debts of HUF allotted to assessees u11der award of arbitrator-Assessees liable to pay Avyavaha1ic or illegal 011 such debts paid to unsecured creditors-Held : Appellate T1ibu11al was right in 11ot allowing such interest as admissible (ieduction-Deductio11s could be allowed 011ly under provisions of Income Tax Act a11d 11ot merely no ground of liability to pay interest 011 D debts or 011 pri11ciple or
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