https://www.taxtmi.com/caselaws?id=7811 A partnership firm was refused registration because the instrument did not state the capital to be contributed by each partner, making the computation of interest on excess capital and the shares of profit and loss uncertain. Registration under section 26A required a partnership deed that clearly specified the individual shares of the partners and permitted profits and losses to be determined with certainty from the operative terms of the instrument. The court held that vague drafting in the deed itself was fatal, and the refusal of registration was therefore justified. en-us Thu, 17 Apr 1969 00:00:00 +0530 Thu, 19 Mar 2009 15:39:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7811 A partnership firm was refused registration because the instrument did not state the capital to be contributed by each partner, making the computation of interest on excess capital and the shares of profit and loss uncertain. Registration under section 26A required a partnership deed that clearly specified the individual shares of the partners and permitted profits and losses to be determined with certainty from the operative terms of the instrument. The court held that vague drafting in the deed itself was fatal, and the refusal of registration was therefore justified. Case-Laws Income Tax Thu, 17 Apr 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7811