https://www.taxtmi.com/caselaws?id=8445 A partnership is genuine where the deed records an agreement to share profits of a business carried on by any partner on behalf of all. A false recital explaining why the arrangement was entered into does not, by itself, show that no partnership came into existence. Nor does one partner's non-participation in day-to-day management negate the partnership, because personal management by every partner is not required. On the record, there was no material showing that the business was not carried on on behalf of all the executants after the deed was executed, so the Tribunal's finding that the partnership was not genuine was unsupported by evidence and the issue was answered in favour of the assessee. en-us Wed, 11 Aug 1971 00:00:00 +0530 Wed, 15 Apr 2009 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8445 A partnership is genuine where the deed records an agreement to share profits of a business carried on by any partner on behalf of all. A false recital explaining why the arrangement was entered into does not, by itself, show that no partnership came into existence. Nor does one partner's non-participation in day-to-day management negate the partnership, because personal management by every partner is not required. On the record, there was no material showing that the business was not carried on on behalf of all the executants after the deed was executed, so the Tribunal's finding that the partnership was not genuine was unsupported by evidence and the issue was answered in favour of the assessee. Case-Laws Income Tax Wed, 11 Aug 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8445