https://www.taxtmi.com/caselaws?id=188551 A partnership was held to be genuine where the sons' capital contributions were supported by contemporaneous book entries and the surrounding circumstances showed real gifts, so the absence of manual delivery did not defeat transfer of money. The father's dominant role in management did not make the firm fictitious because a managing partner may lawfully control the business. Delay in transferring the excise licence also did not affect genuineness, as partnership formation was not prohibited and only appropriate licence amendment was required. Registration under section 26A was therefore wrongly refused. en-us Fri, 09 Feb 1962 00:00:00 +0530 Mon, 05 Dec 2016 15:54:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188551 A partnership was held to be genuine where the sons' capital contributions were supported by contemporaneous book entries and the surrounding circumstances showed real gifts, so the absence of manual delivery did not defeat transfer of money. The father's dominant role in management did not make the firm fictitious because a managing partner may lawfully control the business. Delay in transferring the excise licence also did not affect genuineness, as partnership formation was not prohibited and only appropriate licence amendment was required. Registration under section 26A was therefore wrongly refused. Case-Laws Income Tax Fri, 09 Feb 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188551