https://www.taxtmi.com/caselaws?id=6388 Renewal of firm registration under section 26A of the Indian Income-tax Act, 1922 required the applicant to certify, in the prescribed form, that the previous year's profits or losses had been or would be divided or credited among the partners as scheduled. Reading section 26A with rules 2, 3 and 6, the Court held that actual division or credit of the previous year's profits before the renewal application was a mandatory statutory condition. The requirement was not optional, and hardship could not displace the plain language of the statutory scheme. en-us Mon, 11 Dec 1972 00:00:00 +0530 Thu, 04 Dec 2008 19:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6388 Renewal of firm registration under section 26A of the Indian Income-tax Act, 1922 required the applicant to certify, in the prescribed form, that the previous year's profits or losses had been or would be divided or credited among the partners as scheduled. Reading section 26A with rules 2, 3 and 6, the Court held that actual division or credit of the previous year's profits before the renewal application was a mandatory statutory condition. The requirement was not optional, and hardship could not displace the plain language of the statutory scheme. Case-Laws Income Tax Mon, 11 Dec 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6388