https://www.taxtmi.com/caselaws?id=285722 For succession under Section 26(2) the Court applies the continuing concern principle: succession requires an existing business carried on by a different person with continuity of contracts, assets or clientele; where prior individual contracts expired and a new partnership commenced similar labour supply contracts, there was no succession, and the firm did not succeed to the individuals' businesses. On registration under Section 26 A(1) the Court applies the mandatory specification rule: the partnership instrument must itself state the individual shares of all persons who are partners; omission of those inter se shares justified refusal of registration. en-us Fri, 18 Dec 1936 00:00:00 +0530 Thu, 23 Jan 2020 14:24:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=285722 For succession under Section 26(2) the Court applies the continuing concern principle: succession requires an existing business carried on by a different person with continuity of contracts, assets or clientele; where prior individual contracts expired and a new partnership commenced similar labour supply contracts, there was no succession, and the firm did not succeed to the individuals' businesses. On registration under Section 26 A(1) the Court applies the mandatory specification rule: the partnership instrument must itself state the individual shares of all persons who are partners; omission of those inter se shares justified refusal of registration. Case-Laws Income Tax Fri, 18 Dec 1936 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=285722