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2016 (2) TMI 573 - HC - Income TaxExclusion from the income of the firm, the amounts relatable to the retired/deceased partner/s share - diversion on account of overriding title in favour of the expartner/ s or their heirs/ executors by virtue of the partnership deed - Tribunal held that sum paid to ex partners amounted to diversion of income by overridding title and so was allowable as deduction? - Held that:- We find that the impugned order of the Tribunal has dismissed the Revenue's appeal by inter alia recording the fact that in the order of the Commissioner of Income Tax (Appeals) (CIT(A)) had only followed the consistent view of the Tribunal in the assessee's own case for the earlier Assessment Years. Also see CIT Vs. Mulla and Mulla and Craigie, Blunt and Caroe, (1990 (9) TMI 32 - BOMBAY High Court ) while dismissing the Revenue's appeal.
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