TRIBHUVANDAS G. PATEL. versus COMMISSIONER OF INCOME-TAX
Income contract partner income contract whereby one of the partners retires from the firm, while the other, the partners have released a portion of the amount paid to the partner who is retiring in the profit of his or her share. Until the retirement date of his retirement, his share of the profits in the hands of the Indian Income Tax Act of 1961 was evaluated [CIT v. Thirhonds G, Patel (1978) 115 ITR 95 partially verified and partially reversed. ]
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