Banerji, J. - (1.) This reference under Section 66(1) of the Indian Income-tax Act, 1922, is at the instance of S. M. Basu and others, the heirs and legal representatives of C. C. Basu, deceased. The assessment year is 1958-59, for which the relevant accounting year is the calendar year 1957. The Tribunal has drawn up a statement of the case and has referred the following question to this court: "Whether, on the facts and in the circumstances of the case, the Tribunal was correct in holding that the assessee was not entitled to the relief under Section 25(3) and/or Section 25{4) of the Indian Income-tax Act, 1922, for the assessment year 1958-59 ?"
(2.) The facts found and/or admitted are shortly as follows : C. C. Basu, a well-known solicitor of this court, died on the 9th December, 1967. He was a partner in the firm of Messrs. C. C. Basu & Co., Solicitors, having four annas share therein. The deceased had income from his share in the said firm which was assessed as his professional income. The deceased also had other income from property.
(3.) In the assessment proceedings the heirs and legal representatives of the deceased claimed relief under Section 25(3) and/or Section 25(4) of the Act in respect of the said professional income of the deceased. The ITO held that discontinuance or cessation of the exercise of the profession by the deceased being due to death, Section 25(3) of the Act had no application.;