https://www.taxtmi.com/caselaws?id=21222 A partnership deed cannot be read to treat a guardian as a partner in substitution for a minor where the deed itself shows the minor as a party and allocates profit and loss shares in that manner. The Karnataka High Court analysis distinguished authorities on different facts and rejected any construction that would rewrite the document into a valid adults-only partnership. It also held that the benami concept was inapplicable because the minors were expressly named and the capital belonged to them. On that footing, the arrangement was treated as an invalid admission of minors as full partners, and registration was not available on the basis urged by the assessee. en-us Wed, 29 Jul 1992 00:00:00 +0530 Fri, 20 Nov 2009 18:25:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21222 A partnership deed cannot be read to treat a guardian as a partner in substitution for a minor where the deed itself shows the minor as a party and allocates profit and loss shares in that manner. The Karnataka High Court analysis distinguished authorities on different facts and rejected any construction that would rewrite the document into a valid adults-only partnership. It also held that the benami concept was inapplicable because the minors were expressly named and the capital belonged to them. On that footing, the arrangement was treated as an invalid admission of minors as full partners, and registration was not available on the basis urged by the assessee. Case-Laws Income Tax Wed, 29 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21222