https://www.taxtmi.com/caselaws?id=285716 Entries in the books of account and the partnership deeds were sufficient in law to show disruption of the Hindu joint family business and the formation of a valid partnership firm. A going business could be partitioned without physical division of assets, and no registered instrument was necessary for that arrangement. The absence of formal transfer documents, alleged defects in assignment of debts and securities, bank dealings, and lack of notice to creditors did not displace the legal effect of the division. On that basis, the firm was entitled to registration under Section 26A of the Income-tax Act, 1922. en-us Mon, 22 Feb 1954 00:00:00 +0530 Thu, 23 Jan 2020 11:35:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285716 Entries in the books of account and the partnership deeds were sufficient in law to show disruption of the Hindu joint family business and the formation of a valid partnership firm. A going business could be partitioned without physical division of assets, and no registered instrument was necessary for that arrangement. The absence of formal transfer documents, alleged defects in assignment of debts and securities, bank dealings, and lack of notice to creditors did not displace the legal effect of the division. On that basis, the firm was entitled to registration under Section 26A of the Income-tax Act, 1922. Case-Laws Income Tax Mon, 22 Feb 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285716