Case Name : Commissioner Of Income Tax vs Nagpur Golden Transport Co. (Delhi High Court)
Appeal Number : 1998 233 ITR 389 Delhi
Date of Judgement/Order : 01/12/1997
Related Assessment Year :
The scheme of the IT Act, 1961, shows that the firm and its partners are treated as two separate legal entities so far as the provisions of tax law are concerned. While framing an order of assessment under the provisions of the IT Act, 1961, the firm and its partners are to be treated as two separate legal entities and payment of interest to a firm cannot be treated in the tax law as payment of interest to its partners.
Delhi High Court
Commissioner Of Income Tax
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