Partnership registration follows the deed's commencement date, limiting assessment-year coverage to the actual period of existence.

Registration of a firm must conform to the actual commencement of the partnership and the terms of the partnership deed. Where the deed was executed on 12 July 1949 but provided that the partnership commenced from 1 July 1949, registration for the assessment year 1950-51 could not operate for the entire year of account. The proper effect of registration was limited to the period covered by the partnership's commencement under the deed, namely 1 July 1949 to 31 December 1949.

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Issues: Whether the registration of the firm for the assessment year 1950-51 was to operate for the entire year of account or only for the period from 1 July 1949 to 31 December 1949.

Analysis: The partnership deed under which the firm for the assessment year 1950-51 came into existence was executed on 12 July 1949, and it provided that the partnership would commence from 1 July 1949. In those circumstances, the direction granting registration for the whole year of account could not stand. The proper effect of the registration had to conform to the actual commencement of the partnership and the terms of the deed.

Conclusion: The registration for the assessment year 1950-51 was confined to the period from 1 July 1949 to 31 December 1949.

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