https://www.taxtmi.com/caselaws?id=58274 The Tribunal ruled in favor of the appellant partnership firm, determining that the commission paid to the retiring partner constituted a diversion of income by an overriding title. The payments were considered revenue expenses as they were for the use of the retiring partner's interest in the firm's goodwill, agency rights, and tenancy rights. As a result, the appellant was allowed to deduct the amounts paid to the retiring partner for both assessment years. en-us Thu, 13 Jun 1985 00:00:00 +0530 Sat, 18 Dec 2010 12:31:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58274 The Tribunal ruled in favor of the appellant partnership firm, determining that the commission paid to the retiring partner constituted a diversion of income by an overriding title. The payments were considered revenue expenses as they were for the use of the retiring partner's interest in the firm's goodwill, agency rights, and tenancy rights. As a result, the appellant was allowed to deduct the amounts paid to the retiring partner for both assessment years. Case-Laws Income Tax Thu, 13 Jun 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58274