2000 (2) TMI 14 - SCH - Income Tax

Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in directing the Income-tax Officer to deduct interest payments made to the coparceners on the amounts lent by them to the Hindu undivided family - Held, no

Summary

The Supreme Court allowed the appeal against the Andhra Pradesh High Court's judgment and deemed a question of law referred for consideration. The court answered the question in the negative, in favor of the Revenue and against the assessee, based on previous decisions. The appeal was disposed of with no order as to costs.