1988 (1) TMI 12

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....late Tribunal, Bombay Bench 'A', Bombay, has referred the following two questions to this court for its opinion : " 1. Whether, on the facts and in the circumstances of the case, the inference drawn by the Tribunal that the payment of Rs. 36,292 made by the assessee to Sri Parmanandbhai Patel was prompted by extra commercial considerations is justified ? 2. Whether, on the facts and in the c....

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....rm as per deed of retirement, copy of which has been annexed as annexure 'C' to the statement of the case. In terms of the deed of retirement, the continuing partners agreed to pay Rs. 50,000 per annum to Shri Parmanandbhai for the use of his onehalf share of the goodwill of the partnership. The assessee claimed deduction of the sum paid to Parmanandbhai for user of his share of goodwill as revenu....

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....rs in the firm, namely, Smt. Ujjambai and Smt. Jadavbai. It further appears from this document that Smt. Jadavbai died on April 12, 1961, i.e., about two months before execution of this deed of partnership. Annexure 'A' to the statement of the case, namely, the deed of partnership dated June 21, 1961, further indicates that Smt. Jadavbai was the widow of Mohanlal whereas annexure 'B' to the statem....

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....tered into partnership with the surviving partner, Smt. Ujjambai, on June 21, 1961, he would, in the normal course, be deemed to have an interest in the assets including the share of goodwill of Smt. Jadavbai by inheritance unless Smt. Jadavbai had disposed of her interest either by will or otherwise. Since, however, this aspect of the matter has not been considered and there is no finding of the ....