https://www.taxtmi.com/caselaws?id=8184 A partnership firm constituted by written deed was entitled to registration where the deed specified the partners' shares and lawfully admitted a minor only to the benefits of partnership. The Income-tax authorities could examine whether a genuine firm existed and whether the application met the prescribed requirements, but registration could not be refused merely because profits of one business and losses of another were separately allocated. Read as a whole, the deed authorised the minor to receive profits without personal liability for losses, and that arrangement was consistent with section 30(2) of the Partnership Act. The refusal of registration was therefore unjustified. en-us Tue, 20 Jan 1970 00:00:00 +0530 Wed, 01 Apr 2009 12:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8184 A partnership firm constituted by written deed was entitled to registration where the deed specified the partners' shares and lawfully admitted a minor only to the benefits of partnership. The Income-tax authorities could examine whether a genuine firm existed and whether the application met the prescribed requirements, but registration could not be refused merely because profits of one business and losses of another were separately allocated. Read as a whole, the deed authorised the minor to receive profits without personal liability for losses, and that arrangement was consistent with section 30(2) of the Partnership Act. The refusal of registration was therefore unjustified. Case-Laws Income Tax Tue, 20 Jan 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8184