https://www.taxtmi.com/caselaws?id=26323 A provision debited for alleged use of an ex-partner's right was not allowable as a tax deduction because, on the facts found, the firm had not used any such right during the relevant year and no credit balance stood in the ex-partner's favour. The claim of diversion by overriding title under section 37 of the Partnership Act was rejected as misconceived, and the liability had not crystallised so as to support deduction. The disallowance was therefore upheld against the assessee by the HC. en-us Mon, 17 Dec 1984 00:00:00 +0530 Thu, 04 Feb 2010 12:21:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26323 A provision debited for alleged use of an ex-partner's right was not allowable as a tax deduction because, on the facts found, the firm had not used any such right during the relevant year and no credit balance stood in the ex-partner's favour. The claim of diversion by overriding title under section 37 of the Partnership Act was rejected as misconceived, and the liability had not crystallised so as to support deduction. The disallowance was therefore upheld against the assessee by the HC. Case-Laws Income Tax Mon, 17 Dec 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26323