https://www.taxtmi.com/caselaws?id=71156 A partnership firm is entitled to registration where the deed names the partners, fixes profit and loss shares, and the evidence shows actual division of profits in accordance with the deed. Failure to prove that one partner separately contributed the initial capital does not, by itself, make the partnership unreal or the partner non-genuine. The legal test remains whether there is a real agreement to share profits or losses and business is carried on by or on behalf of the partners. On this reasoning, refusal of registration was not justified and registration was allowed. en-us Thu, 01 Mar 1979 00:00:00 +0530 Thu, 21 Apr 2011 16:22:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71156 A partnership firm is entitled to registration where the deed names the partners, fixes profit and loss shares, and the evidence shows actual division of profits in accordance with the deed. Failure to prove that one partner separately contributed the initial capital does not, by itself, make the partnership unreal or the partner non-genuine. The legal test remains whether there is a real agreement to share profits or losses and business is carried on by or on behalf of the partners. On this reasoning, refusal of registration was not justified and registration was allowed. Case-Laws Income Tax Thu, 01 Mar 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71156