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“Section 67(3)”

Section References (mined)Section 67Section 67(3)5 judgments

MANASUKH VELJI SHAH ,MUMBAI vs. ACIT, CENTRAL CIRCLE -1, THANE

In the result, ground no.1 is allowed

ITA 4960/MUM/2024[2019-20]Status: DisposedITAT Mumbai05 Jun 2025AY 2019-20

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2019-20

For Appellant: Shri. Subodh Ratnaparkhi, CAFor Respondent: Shri R.R. Makwana, Addl. CIT
Section 139Section 143(3)Section 36(1)(iii)Section 37(1)

said business. Other deductions as admissible in law can also be claimed by the partner against such income. Under the old provisions, section 67(3) entitled a partner to claim deduction in respect of any interest paid by a partner on capital borrowed by him for the purposes of investment ... from firm are deductible from the income. The Delhi High Court in CIT v. Sohan Lal Nyyar [1974] 95 ITR 90 held that section 67(3) is not exhaustive and any deduction otherwise allowable under section 37(1) will have to be allowed even if it does not fall within

RAMESH VELJI SHAH ,MUMBAI vs. ACIT , CENTRAL CIRCLE -1, , THANE

In the result, ground no.1 is allowed

ITA 4959/MUM/2024[2019-20]Status: DisposedITAT Mumbai05 Jun 2025AY 2019-20

Bench: Shri Amit Shukla & Shri Girish Agrawalassessment Year: 2019-20

For Appellant: Shri. Subodh Ratnaparkhi, CAFor Respondent: Shri R.R. Makwana, Addl. CIT
Section 139Section 143(3)Section 36(1)(iii)Section 37(1)

said business. Other deductions as admissible in law can also be claimed by the partner against such income. Under the old provisions, section 67(3) entitled a partner to claim deduction in respect of any interest paid by a partner on capital borrowed by him for the purposes of investment ... from firm are deductible from the income. The Delhi High Court in CIT v. Sohan Lal Nyyar [1974] 95 ITR 90 held that section 67(3) is not exhaustive and any deduction otherwise allowable under section 37(1) will have to be allowed even if it does not fall within

SACHIN CHANDRU MIRANI ,MUMBAI vs. ACIT, CENTRAL CIRCLE 1, THANE

In the result, the appeal of the assessee is allowed

ITA 5014/MUM/2024[2019-20]Status: DisposedITAT Mumbai21 Nov 2024AY 2019-20

Bench: Shri Sandeep Gosain, Jm & Ms Padmavathy S, Am

For Appellant: Shri Subodh Ratnaparkhi, CAFor Respondent: Shri Nagesh Bhimrao Pasale
Section 36(1)(iii)Section 37(1)

said business. Other deductions as admissible in law can also be claimed by the partner against such income. Under the old provisions, section 67(3) entitled a partner to claim deduction in respect of any interest paid by a partner on capital borrowed by him for the purposes of investment ... from firm are deductible from the income. The Delhi High Court in CIT v. Sohan Lal Nyyar [1974] 95 ITR 90 held that section 67(3) is not exhaustive and any deduction otherwise allowable under section 37(1) will have to be allowed even if it does not fall within

ISHWARDAS SATYANARAYAN GUPTA,MUMBAI vs. ITO, WARD-41(3)(2), MUMBAI

In the result, appeal filed by the assessee is allowed

ITA 2058/MUM/2023[2014-15]Status: DisposedITAT Mumbai15 Sept 2023AY 2014-15

Bench: Shri Vikas Awasthy, Hon'Ble & Shri S. Rifaur Rahman, Hon'Bleishwardas Satyanarayan Gupta V. Ito – Ward – 41(3)(2) Kautilya Bhavan, C-41 To C-43 B1002, Mahindra Eminent G Block, Bandra Kurla Complex Near Patkar College Bandra (E), Mumbai - 400051 S.V. Road, Goregaon (W) Mumbai – 400104 Pan: Aejpg5040F (Appellant) (Respondent)

IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC”, MUMBAI BEFORE SHRI VIKAS AWASTHY, HON'BLE JUDICIAL MEMBER AND SHRI

SRI. NARAYANASWAMY KRISHNA,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, CIRCLE- 3(2)(1), BANGALORE

In the result, the assessee’s appeal is partly allowed

ITA 17/BANG/2020[2014-15]Status: DisposedITAT Bangalore27 Dec 2021AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2014-15

For Appellant: Shri Koushik M., AdvocateFor Respondent: Smt. Priyadarshini Besaganni, Jt.CIT(DR)(ITAT), Bengaluru
Section 24Section 24n

said business. Other deductions as admissible in law can also be claimed by the partner against such income. Under the old provisions, section 67(3) entitled a partner to claim deduction in respect of any interest paid by a partner on capital borrowed by him for the purposes of investment ... firm are deductible from the income. The Delhi High Court in CIT vs. Sohan Lal Nayar (1974) 95 ITR 90 (Del) held that section 67(3) is not exhaustive and any deduction otherwise allowable under section 37(1) will have to be allowed even if it does not fall within