https://www.taxtmi.com/caselaws?id=26911 The High Court upheld the Tribunal's decision that the tenancy rights did not belong to the assessee-firm but to the legal heirs of Shri Harnam Singh. As a result, any surplus from the transfer of tenancy rights could not be included in the firm's assessment. The Court emphasized that under partnership law, individual property remains with the partner unless expressly stated otherwise. The legal heirs were deemed entitled to the sum received from the tenancy rights transfer, and each party was to bear its own costs due to the unique legal question involved. en-us Wed, 14 Nov 1984 00:00:00 +0530 Tue, 09 Feb 2010 12:35:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26911 The High Court upheld the Tribunal's decision that the tenancy rights did not belong to the assessee-firm but to the legal heirs of Shri Harnam Singh. As a result, any surplus from the transfer of tenancy rights could not be included in the firm's assessment. The Court emphasized that under partnership law, individual property remains with the partner unless expressly stated otherwise. The legal heirs were deemed entitled to the sum received from the tenancy rights transfer, and each party was to bear its own costs due to the unique legal question involved. Case-Laws Income Tax Wed, 14 Nov 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26911