1934 (4) TMI 16

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..... ion referred is :- When in a firm constituted by three partners, two partners retire in the year of assessment after receiving from the sole surviving partner, their capital together with interest till the date of dissolution, is not the sole surviving partner who succeeds to the business of the firm entitled to deduct the interest so paid by him to his ex-partners under Section 10 (2) (iii) .....

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..... surviving partner who succeeded to the question referred, therefore, must be that the surviving partner who succeeded to the business is not entitled to deduct the interest so paid by him to his ex-partners under Section 10(2) (iii) read with Section 26 (2) of the Act. The Income Tax Commissioner will get costs ₹ 250. Vepa Ramesam, J. I agree. Sundaram Chetty, J. I agree. Refe .....

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