https://www.taxtmi.com/caselaws?id=22569 HC held that amounts collected by the assessee-firm and paid to the estates of deceased partners, in terms of the partnership deeds, did not constitute taxable income of the firm for AY 1969-70. The deceased partners were contractually entitled to a share of profits attributable to work performed up to their dates of death, and the continuing partners were under a binding legal obligation to pay this to the legal heirs. As the sums were diverted at source by overriding title and never accrued as income to the firm, they were not assessable in its hands. Question answered in favour of the assessee-firm. en-us Thu, 20 Sep 1990 00:00:00 +0530 Fri, 05 Dec 2025 16:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22569 HC held that amounts collected by the assessee-firm and paid to the estates of deceased partners, in terms of the partnership deeds, did not constitute taxable income of the firm for AY 1969-70. The deceased partners were contractually entitled to a share of profits attributable to work performed up to their dates of death, and the continuing partners were under a binding legal obligation to pay this to the legal heirs. As the sums were diverted at source by overriding title and never accrued as income to the firm, they were not assessable in its hands. Question answered in favour of the assessee-firm. Case-Laws Income Tax Thu, 20 Sep 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22569