https://www.taxtmi.com/caselaws?id=38469 Where surviving partners continue a firm after a partner's death by admitting the deceased partner's heirs into a fresh partnership, the succession remains by inheritance if the deed and surrounding facts show devolution of the deceased partner's share. On that footing, the successor is not treated as coming in otherwise than by inheritance and may claim the carried-forward loss benefit under section 24(2)(iii)(e) of the Indian Income-tax Act, 1922. The execution of a new partnership deed does not, by itself, defeat the inherited character of the succession. The assessee was therefore entitled to set off the deceased father's proportionate partnership losses. en-us Mon, 01 Aug 1977 00:00:00 +0530 Tue, 06 Apr 2010 14:09:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38469 Where surviving partners continue a firm after a partner's death by admitting the deceased partner's heirs into a fresh partnership, the succession remains by inheritance if the deed and surrounding facts show devolution of the deceased partner's share. On that footing, the successor is not treated as coming in otherwise than by inheritance and may claim the carried-forward loss benefit under section 24(2)(iii)(e) of the Indian Income-tax Act, 1922. The execution of a new partnership deed does not, by itself, defeat the inherited character of the succession. The assessee was therefore entitled to set off the deceased father's proportionate partnership losses. Case-Laws Income Tax Mon, 01 Aug 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38469