https://www.taxtmi.com/caselaws?id=25662 The High Court of Orissa ruled in favor of the assessee, allowing registration for a partnership firm despite initial discrepancies in profit allocation compared to the partnership deed. The court emphasized the importance of aligning profit-sharing ratios with the partnership agreement and recognized corrections made before assessment as valid. The judgment underscores the need for accurate profit allocation in partnership firms for registration and compliance with tax laws. en-us Tue, 24 Feb 1987 00:00:00 +0530 Sat, 30 Jan 2010 10:50:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25662 The High Court of Orissa ruled in favor of the assessee, allowing registration for a partnership firm despite initial discrepancies in profit allocation compared to the partnership deed. The court emphasized the importance of aligning profit-sharing ratios with the partnership agreement and recognized corrections made before assessment as valid. The judgment underscores the need for accurate profit allocation in partnership firms for registration and compliance with tax laws. Case-Laws Income Tax Tue, 24 Feb 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25662