https://www.taxtmi.com/caselaws?id=192860 A partnership deed is construed as a whole, and an express recital admitting minors only to the benefits of partnership will govern ancillary clauses on profits, losses, accounts and management. On that construction, the deed does not make the minors full partners or impose personal liability inconsistent with section 30 of the Partnership Act, 1932, so a valid firm comes into existence. Where the firm is validly constituted and the minors are only beneficiaries, registration under section 26A is not prejudicial to revenue merely because of a technical defect in the renewal application, especially where the defect is capable of rectification. Cancellation of registration was therefore unwarranted. en-us Mon, 02 Jan 1967 00:00:00 +0530 Tue, 27 Jun 2017 16:40:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192860 A partnership deed is construed as a whole, and an express recital admitting minors only to the benefits of partnership will govern ancillary clauses on profits, losses, accounts and management. On that construction, the deed does not make the minors full partners or impose personal liability inconsistent with section 30 of the Partnership Act, 1932, so a valid firm comes into existence. Where the firm is validly constituted and the minors are only beneficiaries, registration under section 26A is not prejudicial to revenue merely because of a technical defect in the renewal application, especially where the defect is capable of rectification. Cancellation of registration was therefore unwarranted. Case-Laws Income Tax Mon, 02 Jan 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192860