1993 (9) TMI 60

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..... s under section 256(1) of the Income-tax Act, 1961 ("the Act" for short), for our opinion : " 1. Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in coming to the conclusion that all the primary facts were not disclosed even though the assessee submitted the agreement entered into with National Boarder Manufacturing Co. ? 2. Whether, o .....

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..... isallowed on the ground that he was a partner of the assessee-firm as karta of the Hindu undivided family. The court observed that it goes without saying that when the assessee represents a Hindu undivided family, the interest, paid to the Hindu undivided family has to be disallowed and not any interest paid to the assessee in his account for the advance made by him personally. Under section 40(b) .....

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