diff --git a/nose/importer.py b/nose/importer.py
index e677658c..01a72038 100644
--- a/nose/importer.py
+++ b/nose/importer.py
@@ -39,8 +39,6 @@ def importFromPath(self, path, fqname):
         # find the base dir of the package
         path_parts = os.path.normpath(os.path.abspath(path)).split(os.sep)
         name_parts = fqname.split('.')
-        if path_parts[-1] == '__init__.py':
-            path_parts.pop()
         path_parts = path_parts[:-(len(name_parts))]
         dir_path = os.sep.join(path_parts)
         # then import fqname starting from that dir