https://www.taxtmi.com/caselaws?id=71207 The Tribunal partly allowed the appeal, upholding the validity of the assessment on the firm despite the partners' deaths, affirming the taxability of interest income on accrual basis, and directing the assessment of interest income over two years in accordance with the mercantile system of accounting. The Tribunal found that the notice issued under section 148 and the subsequent assessment under section 144 r/w 147 were legally sound, considering the partnership deed and partners' conduct indicating the firm's continuity. en-us Fri, 11 Apr 2008 00:00:00 +0530 Wed, 12 Jun 2013 18:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71207 The Tribunal partly allowed the appeal, upholding the validity of the assessment on the firm despite the partners' deaths, affirming the taxability of interest income on accrual basis, and directing the assessment of interest income over two years in accordance with the mercantile system of accounting. The Tribunal found that the notice issued under section 148 and the subsequent assessment under section 144 r/w 147 were legally sound, considering the partnership deed and partners' conduct indicating the firm's continuity. Case-Laws Income Tax Fri, 11 Apr 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71207