1985 (12) TMI 96

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..... Revenue's appeal, the action of the AAC in allowing interest payment to Shri Nawal Kishor in the capacity of individual' and having held that the same is not hit by the provisions of s. 40 (b) of the IT Act. 1961, is challenged. In this case, it is the HUF in a representative capacity, of which Nawal kishore was the partner. Here also, the earlier decisions of the Tribunal were relied upon and cer .....

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..... lanation, since Nawal Kishore was partner in the representative capacity of his HUF and the account on which the interest was paid was 'individual', no addition under s. 40 (b) was warranted and it was rightly deleted by the AAC. 3. In the cross objection, the assessee has only supported the order of the AAC, since the Revenue fails in its appeal, C. O. becomes infructuous and the same as such .....

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