https://www.taxtmi.com/caselaws?id=277085 A firm that began by oral agreement is not barred from registration under Section 26A if, at the time of application, its partnership terms have been reduced into writing and the application is supported by the instrument. The written deed must constitute the firm from its own date and specify the individual shares of the partners; it cannot operate retrospectively for a closed assessment year. A recital that the partners had previously carried on business on similar terms does not change the legal effect of the instrument. The firm may therefore be treated as constituted under the deed from the date of execution for future purposes. en-us Thu, 03 Dec 1953 00:00:00 +0530 Fri, 23 Nov 2018 18:44:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=277085 A firm that began by oral agreement is not barred from registration under Section 26A if, at the time of application, its partnership terms have been reduced into writing and the application is supported by the instrument. The written deed must constitute the firm from its own date and specify the individual shares of the partners; it cannot operate retrospectively for a closed assessment year. A recital that the partners had previously carried on business on similar terms does not change the legal effect of the instrument. The firm may therefore be treated as constituted under the deed from the date of execution for future purposes. Case-Laws Income Tax Thu, 03 Dec 1953 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=277085