https://www.taxtmi.com/caselaws?id=7389 A partnership carrying on a licensed liquor business was treated as valid for income-tax registration because the licence remained in the first partner's name, the business continued under that name, capital was contributed only by him, and the second partner's role was limited to management. On those facts, the arrangement was not regarded as a transfer, letting or assignment of the excise privilege under the Bihar and Orissa Excise Act, 1915. Admission of a partner to share profits, without an actual transfer of the licensed right, did not make the firm illegal or defeat registration under section 26A of the Indian Income-tax Act, 1922. en-us Fri, 08 Nov 1968 00:00:00 +0530 Thu, 19 Feb 2009 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7389 A partnership carrying on a licensed liquor business was treated as valid for income-tax registration because the licence remained in the first partner's name, the business continued under that name, capital was contributed only by him, and the second partner's role was limited to management. On those facts, the arrangement was not regarded as a transfer, letting or assignment of the excise privilege under the Bihar and Orissa Excise Act, 1915. Admission of a partner to share profits, without an actual transfer of the licensed right, did not make the firm illegal or defeat registration under section 26A of the Indian Income-tax Act, 1922. Case-Laws Income Tax Fri, 08 Nov 1968 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7389