https://www.taxtmi.com/caselaws?id=61931 The tribunal upheld the decision denying registration to the firm for the assessment years 1978-79 and 1979-80 due to the absence of a clause specifying the sharing of losses in the partnership deed, despite mentioning the ratio for sharing profits. The tribunal emphasized the necessity of clear provisions in the original partnership deed for registration purposes, dismissing the argument that subsequent agreements could rectify the omission. The judgment highlights the importance of precise documentation in partnership agreements to establish eligibility for registration under the Income-tax Act, 1961. en-us Fri, 02 Aug 1985 00:00:00 +0530 Mon, 17 Jan 2011 11:29:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61931 The tribunal upheld the decision denying registration to the firm for the assessment years 1978-79 and 1979-80 due to the absence of a clause specifying the sharing of losses in the partnership deed, despite mentioning the ratio for sharing profits. The tribunal emphasized the necessity of clear provisions in the original partnership deed for registration purposes, dismissing the argument that subsequent agreements could rectify the omission. The judgment highlights the importance of precise documentation in partnership agreements to establish eligibility for registration under the Income-tax Act, 1961. Case-Laws Income Tax Fri, 02 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61931