Payments to Ex-Partners or Spouses of Deceased Partners Not Taxable Due to Income Diversion by Overriding Title.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Diversion of income by an overriding title - the payment made to ex-partners or to the spouses of the deceased partners was not application of money - it was a case of diversion of income by an overriding title - No tax liability - AT....