https://www.taxtmi.com/caselaws?id=192232 Entitlement to firm registration under section 26A of the Income-tax Act, 1922 depended on strict compliance with the partnership deed and prescribed rules under section 59. Where the deed contemplated division of all divisible profits but part of those profits was carried forward instead of being divided or credited in accordance with the instrument, the statutory condition for registration was not met. The Andhra Pradesh HC held that non-division of any part of the divisible profits defeated registration, and authorities concerning reserve funds or different facts did not control the issue. en-us Fri, 22 Jun 1962 00:00:00 +0530 Sat, 20 May 2017 17:20:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192232 Entitlement to firm registration under section 26A of the Income-tax Act, 1922 depended on strict compliance with the partnership deed and prescribed rules under section 59. Where the deed contemplated division of all divisible profits but part of those profits was carried forward instead of being divided or credited in accordance with the instrument, the statutory condition for registration was not met. The Andhra Pradesh HC held that non-division of any part of the divisible profits defeated registration, and authorities concerning reserve funds or different facts did not control the issue. Case-Laws Income Tax Fri, 22 Jun 1962 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192232