https://www.taxtmi.com/caselaws?id=63164 Cancellation of a firm's registration under section 186 of the Income-tax Act was held unjustified where all four partners were already recognised liquor licence-holders and the partnership merely pooled their existing licences to carry on the business. The applicable Punjab Liquor Licence Rules permitted a licence to be granted to a partnership and contemplated changes only by adding or removing partners; no unauthorised stranger was introduced and no new partner was unlawfully added. The cited contrary High Court decision was distinguished because, there, the inducted persons were not licencees. Mere association of licensed persons in partnership does not, by itself, render the firm non-genuine or unlawful for tax purposes. en-us Mon, 30 May 1988 00:00:00 +0530 Fri, 28 Jan 2011 11:43:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63164 Cancellation of a firm's registration under section 186 of the Income-tax Act was held unjustified where all four partners were already recognised liquor licence-holders and the partnership merely pooled their existing licences to carry on the business. The applicable Punjab Liquor Licence Rules permitted a licence to be granted to a partnership and contemplated changes only by adding or removing partners; no unauthorised stranger was introduced and no new partner was unlawfully added. The cited contrary High Court decision was distinguished because, there, the inducted persons were not licencees. Mere association of licensed persons in partnership does not, by itself, render the firm non-genuine or unlawful for tax purposes. Case-Laws Income Tax Mon, 30 May 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63164