https://www.taxtmi.com/caselaws?id=9195 The court ruled against the assessee, denying registration under section 185 of the Income-tax Act, 1961. The judgment emphasized the importance of clearly defining profit and loss sharing ratios among partners in the partnership deed to meet statutory requirements. The court found that the partnership deed did not adequately specify the partners' shares of losses as required by section 184 of the Act, leading to the denial of registration for the firm. The decision highlights the necessity of precise provisions in partnership deeds to ensure compliance with tax laws. en-us Fri, 10 Aug 1973 00:00:00 +0530 Sat, 20 Jun 2009 11:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9195 The court ruled against the assessee, denying registration under section 185 of the Income-tax Act, 1961. The judgment emphasized the importance of clearly defining profit and loss sharing ratios among partners in the partnership deed to meet statutory requirements. The court found that the partnership deed did not adequately specify the partners' shares of losses as required by section 184 of the Act, leading to the denial of registration for the firm. The decision highlights the necessity of precise provisions in partnership deeds to ensure compliance with tax laws. Case-Laws Income Tax Fri, 10 Aug 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9195