JYOTSNABEN NAROTTAMDAS Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS reference relates to the asst. yrs. 1967 68 to 1969 70, the corresponding Samvat Years being 2022 to 2024. The facts leading to this reference, briefly stated, are as under.

(2.) SHRI Narottamdas Chandulal, since deceased, the husband of the assessee was a partner in the firm of M/s Narottamdas Chandulal and Bros. formed under the partnership deed dated 5th January, 1968. Clause 11 of the said partnership deed provided that on the death of the said Narottamdas, his son and failing him his wife and failing her his daughters will succeed him to the extent of his share in the partnership firm. Narottamdas expired on 30th September, 1963, leaving behind him his wife (the assessee) and four daughters. On the basis of the aforesaid cl. 11, the assessee was admitted as a partner in place of the said Narottamdas and a fresh partnership deed was executed on 23rd December, 1963, which was made effective from 1st October, 1963. Under the said partnership deed, the assessee stepped into the shoes of Narottamdas and became entitled to 31 per cent share in the profits and losses of the firm.

(3.) IT may also be mentioned that at the date of execution of this will, deceased Narottamdas did not have a son. He died without a male issue on 30th September, 1963. That is why under cl. 11 of the partnership deed dated 5th January, 1958, his wife, Jyotsna, the assessee before us, stepped into his shoes and was admitted as a partner to the extent of the share of Narottamdas as is obvious from the fresh partnership deed of 23rd December, 1963.