https://www.taxtmi.com/caselaws?id=19647 Where the genuineness of a partnership firm is undisputed and registration formalities are complied with, registration cannot be refused merely because, after one partner's retirement, the continuing partners' revised shares do not total 100 per cent on paper. The Rajasthan HC noted that the entire profit was in fact distributed among the remaining partners in accordance with the partnership arrangement, and the retiring partner's share had been absorbed in the reallocation. On those facts, the profits were treated as properly divided and registration was sustained. en-us Fri, 04 Mar 1994 00:00:00 +0530 Sat, 07 Nov 2009 16:23:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19647 Where the genuineness of a partnership firm is undisputed and registration formalities are complied with, registration cannot be refused merely because, after one partner's retirement, the continuing partners' revised shares do not total 100 per cent on paper. The Rajasthan HC noted that the entire profit was in fact distributed among the remaining partners in accordance with the partnership arrangement, and the retiring partner's share had been absorbed in the reallocation. On those facts, the profits were treated as properly divided and registration was sustained. Case-Laws Income Tax Fri, 04 Mar 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19647