https://www.taxtmi.com/caselaws?id=10879 The Tribunal upheld the appellate authority's decision, deeming the firm as registered under the Income-tax Act, 1961, despite profit distribution discrepancies. The court emphasized the genuineness of the partnership deed, partners' existence, and the firm's active business engagement. It was concluded that no substantial legal question warranted interference with the factual findings, leading to the dismissal of the Revenue's appeal. The court referenced relevant precedents to support its decision, highlighting that prior profit distribution is not mandatory for firm registration as long as provisions exist for future distribution. en-us Tue, 03 Feb 2004 00:00:00 +0530 Mon, 27 Jul 2009 10:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=10879 The Tribunal upheld the appellate authority's decision, deeming the firm as registered under the Income-tax Act, 1961, despite profit distribution discrepancies. The court emphasized the genuineness of the partnership deed, partners' existence, and the firm's active business engagement. It was concluded that no substantial legal question warranted interference with the factual findings, leading to the dismissal of the Revenue's appeal. The court referenced relevant precedents to support its decision, highlighting that prior profit distribution is not mandatory for firm registration as long as provisions exist for future distribution. Case-Laws Income Tax Tue, 03 Feb 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=10879