https://www.taxtmi.com/caselaws?id=21710 The High Court ruled in favor of the assessee, holding that they were entitled to registration for the assessment year 1983-84. The Court emphasized that admitting a minor partner to a firm and subsequently making them a full-fledged partner with retrospective effect was legally valid under the Partnership Act and Income Tax Act provisions. The Court rejected the Revenue's argument that the minor partner should not be burdened with sharing losses during their minority period, citing precedents that supported the assessee's position on the acceptance of responsibilities post-majority. en-us Tue, 06 Aug 1991 00:00:00 +0530 Fri, 27 Nov 2009 11:28:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21710 The High Court ruled in favor of the assessee, holding that they were entitled to registration for the assessment year 1983-84. The Court emphasized that admitting a minor partner to a firm and subsequently making them a full-fledged partner with retrospective effect was legally valid under the Partnership Act and Income Tax Act provisions. The Court rejected the Revenue's argument that the minor partner should not be burdened with sharing losses during their minority period, citing precedents that supported the assessee's position on the acceptance of responsibilities post-majority. Case-Laws Income Tax Tue, 06 Aug 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21710