https://www.taxtmi.com/caselaws?id=184183 A registered partnership deed and account books showing division of profits in agreed shares were treated as sufficient evidence of a genuine firm. The omission to open a separate capital account was held to be only a negative circumstance and not proof that the partnership was unreal. On the recorded evidence, the existence and conduct of the firm were adequately established, and there was no material to sustain a finding of fraud or sham. A dissenting view held that some material existed on the record and that interference was not justified merely because the finding appeared against the weight of evidence. en-us Fri, 09 Apr 1948 00:00:00 +0530 Fri, 01 Jul 2016 15:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184183 A registered partnership deed and account books showing division of profits in agreed shares were treated as sufficient evidence of a genuine firm. The omission to open a separate capital account was held to be only a negative circumstance and not proof that the partnership was unreal. On the recorded evidence, the existence and conduct of the firm were adequately established, and there was no material to sustain a finding of fraud or sham. A dissenting view held that some material existed on the record and that interference was not justified merely because the finding appeared against the weight of evidence. Case-Laws Income Tax Fri, 09 Apr 1948 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184183