https://www.taxtmi.com/caselaws?id=281587 A genuine partnership cannot be denied registration merely because proper accounts were not maintained, where the partners in fact shared profits and losses in accordance with the deed. The Tribunal treated the delay objection as abandoned and found that the only surviving issue was the alleged defect in accounts. On the facts accepted, the firm was otherwise genuine, so absence of proper accounts by itself was not a sufficient legal basis to refuse registration under the Income-tax Act. The question was answered in favour of the assessee and against the Revenue. en-us Tue, 17 Feb 1976 00:00:00 +0530 Wed, 26 Jun 2019 11:48:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=281587 A genuine partnership cannot be denied registration merely because proper accounts were not maintained, where the partners in fact shared profits and losses in accordance with the deed. The Tribunal treated the delay objection as abandoned and found that the only surviving issue was the alleged defect in accounts. On the facts accepted, the firm was otherwise genuine, so absence of proper accounts by itself was not a sufficient legal basis to refuse registration under the Income-tax Act. The question was answered in favour of the assessee and against the Revenue. Case-Laws Income Tax Tue, 17 Feb 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=281587