https://www.taxtmi.com/caselaws?id=8196 A partnership deed admitting a minor only to the benefits of partnership was not void merely because the minor was not made liable for losses. Under the Indian Partnership Act, 1932, such an arrangement was consistent with a minor's limited position. However, for registration of a firm under section 26A of the Indian Income-tax Act, 1922, the instrument itself had to specify the partners' individual shares in both profits and losses. Silence on loss-sharing could not be cured by implication or by resort to the general rule of partnership law. Registration was therefore refused. en-us Thu, 19 Feb 1970 00:00:00 +0530 Thu, 02 Apr 2009 17:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8196 A partnership deed admitting a minor only to the benefits of partnership was not void merely because the minor was not made liable for losses. Under the Indian Partnership Act, 1932, such an arrangement was consistent with a minor's limited position. However, for registration of a firm under section 26A of the Indian Income-tax Act, 1922, the instrument itself had to specify the partners' individual shares in both profits and losses. Silence on loss-sharing could not be cured by implication or by resort to the general rule of partnership law. Registration was therefore refused. Case-Laws Income Tax Thu, 19 Feb 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8196