https://www.taxtmi.com/caselaws?id=12565 The Tribunal upheld the Assessing Officer's decision to deny the continuation of registration for a partnership firm under section 184(7) of the Income-tax Act, 1961. The case highlighted the importance of actual profit distribution among partners as required by the partnership deed for maintaining the firm's genuineness. The absence of proper profit distribution and maintained books of account raised doubts about the firm's authenticity, leading to the ruling in favor of the Revenue and against the assessee, resulting in the disposal of the reference. en-us Fri, 05 Jul 2002 00:00:00 +0530 Wed, 20 May 2009 12:12:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12565 The Tribunal upheld the Assessing Officer's decision to deny the continuation of registration for a partnership firm under section 184(7) of the Income-tax Act, 1961. The case highlighted the importance of actual profit distribution among partners as required by the partnership deed for maintaining the firm's genuineness. The absence of proper profit distribution and maintained books of account raised doubts about the firm's authenticity, leading to the ruling in favor of the Revenue and against the assessee, resulting in the disposal of the reference. Case-Laws Income Tax Fri, 05 Jul 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12565