Partnership registration upheld despite stamp duty defect and missing share clause, with equal shares inferred from connected documents.

Deficiency in stamp duty on the partnership deed did not defeat the firm's entitlement to registration once the duty was subsequently made good, because the payment was treated as relating back to the date of execution. A partnership may also be established from more than one document read together, so the existence of the firm and the allocation of partners' shares could be gathered from the connected instruments. Where the deed dated 29 September 1972 did not expressly specify the shares, the Tribunal was justified in treating the partners as having equal shares. On that basis, the firm was entitled to registration for 1973-74 and continuation of registration for 1974-75.

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Issues: Whether the firm was entitled to registration under the Income-tax Act, 1961 for the assessment year 1973-74 and continuation of registration for 1974-75, in view of the alleged insufficiency of stamp duty on the partnership deed and the absence of an express specification of partners' shares.

Analysis: The deficiency in stamp duty on the deed was subsequently made good, and the payment was held to relate back to the date of execution of the instrument. The Court also held that a partnership may be proved by more than one document read together, and on that basis the existence of the partnership and the allocation of shares could be ascertained from the connected documents. In the absence of an express clause specifying shares in the deed dated 29 September 1972, the Tribunal was justified in treating the partners as having equal shares.

Conclusion: The firm was validly entitled to registration for 1973-74 and continuation of registration for 1974-75.

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