https://www.taxtmi.com/caselaws?id=276194 A partnership deed conferring wide managerial and proprietary powers on one partner does not, by itself, negate partnership where the agreement still shows sharing of profits and mutual agency. The Bombay HC explained that registration depends on whether the deed, read as a whole, creates the essential incidents of partnership rather than a master-servant relationship. Common bank operation, profit-sharing, duties to work in the business, and restrictions on outside business supported partnership status, and enlarged control over assets or constitution of the firm was not inconsistent with that result. en-us Fri, 01 Sep 1961 00:00:00 +0530 Thu, 01 Nov 2018 14:27:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=276194 A partnership deed conferring wide managerial and proprietary powers on one partner does not, by itself, negate partnership where the agreement still shows sharing of profits and mutual agency. The Bombay HC explained that registration depends on whether the deed, read as a whole, creates the essential incidents of partnership rather than a master-servant relationship. Common bank operation, profit-sharing, duties to work in the business, and restrictions on outside business supported partnership status, and enlarged control over assets or constitution of the firm was not inconsistent with that result. Case-Laws Income Tax Fri, 01 Sep 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=276194