https://www.taxtmi.com/caselaws?id=8656 The High Court held that the firm was not entitled to registration under section 185 of the Income-tax Act, 1961 for the assessment year 1965-66 due to the partnership deed's failure to specify individual shares in losses as required by section 184. The court emphasized the necessity of specifying both profit and loss shares in partnership deeds for registration purposes, rejecting arguments for a limited interpretation of the relevant provision. The judgment favored the department's position, ruling against the assessee and requiring communication of the decision to the Appellate Tribunal without cost orders. en-us Wed, 17 Nov 1971 00:00:00 +0530 Sat, 09 May 2009 19:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8656 The High Court held that the firm was not entitled to registration under section 185 of the Income-tax Act, 1961 for the assessment year 1965-66 due to the partnership deed's failure to specify individual shares in losses as required by section 184. The court emphasized the necessity of specifying both profit and loss shares in partnership deeds for registration purposes, rejecting arguments for a limited interpretation of the relevant provision. The judgment favored the department's position, ruling against the assessee and requiring communication of the decision to the Appellate Tribunal without cost orders. Case-Laws Income Tax Wed, 17 Nov 1971 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8656