https://www.taxtmi.com/caselaws?id=65113 Registration under the Income-tax Act depends on a valid partnership instrument, a properly made application, and the existence of a genuine firm. On the facts noted, the firm was genuine and the partner concerned had contributed capital during the year, with the capital account reflecting instalment-wise compliance. The partnership deed did not require immediate lump-sum payment of the entire stipulated capital, so refusal of registration could not rest only on non-payment of the full amount at once. The assessee was therefore entitled to registration and the refusal was not justified. en-us Sat, 20 Nov 1976 00:00:00 +0530 Sat, 12 Feb 2011 14:11:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65113 Registration under the Income-tax Act depends on a valid partnership instrument, a properly made application, and the existence of a genuine firm. On the facts noted, the firm was genuine and the partner concerned had contributed capital during the year, with the capital account reflecting instalment-wise compliance. The partnership deed did not require immediate lump-sum payment of the entire stipulated capital, so refusal of registration could not rest only on non-payment of the full amount at once. The assessee was therefore entitled to registration and the refusal was not justified. Case-Laws Income Tax Sat, 20 Nov 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65113