https://www.taxtmi.com/caselaws?id=16877 A partnership formed to conduct abkari contract business on a licence standing in the name of one partner was treated as an unlawful arrangement because it effectively transferred or shared the licensed privilege in breach of the governing prohibition. The licence remained exclusive to the licensee, so the other partners could not acquire rights under it, and the firm was therefore void for carrying on that business. As the partnership could not be recognised as a genuine firm, it did not satisfy the requirements for registration under the Income-tax Act, 1961, and registration was refused. en-us Thu, 26 Sep 1996 00:00:00 +0530 Sat, 12 Sep 2009 16:59:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16877 A partnership formed to conduct abkari contract business on a licence standing in the name of one partner was treated as an unlawful arrangement because it effectively transferred or shared the licensed privilege in breach of the governing prohibition. The licence remained exclusive to the licensee, so the other partners could not acquire rights under it, and the firm was therefore void for carrying on that business. As the partnership could not be recognised as a genuine firm, it did not satisfy the requirements for registration under the Income-tax Act, 1961, and registration was refused. Case-Laws Income Tax Thu, 26 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16877