Supreme Court · 1996 INSC 1457 · Decided 10 December 1996
M/S. Brij Mohan Das Laxman Das v. Commissioner of Income Tax, Allahabad
- Court
- Supreme Court of India
- Citation
- 1996 INSC 1457 · [1996] SUPP. 9 S.C.R. 775
- Case number
- CIVIL APPEAL No. 2100/1979
- Decided
- 10 December 1996
- Bench
- B.P. JEEVAN REDDY, K.S. PARIPOORNAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 40(b), 40
Headnote
Income Tax Act, 1961 : Section 40(b) Explanation 2 (Added by Taxa­ tion Laws (Amendment) Act, 1984). A B Interest-Paid to partner-On amount deposited by him in his in- C dividual capacity-AY 1974-7~Such pmtner not being a pa1t11er in his individual capacity but representing his HUF-Held : such }-Expln. 2 in the context of S.40(b) was declaratory in nature and, therefore, has retrospective effect. The appellant-assessee was a registered partnership firm of three D partners. One of the partners was the Karta and represented his H.U.F. The partnership firm maintained capital and deposit
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