https://www.taxtmi.com/caselaws?id=28067 A partnership deed may validly allow a minor admitted to the benefits of the firm to elect, on attaining majority, to become a full-fledged partner without creating a new partnership. Where the deed so provides and the former minor continues on the same profit-sharing basis, the only legal change is exposure to losses as a partner. On these facts, the firm's constitution is not altered, so a fresh deed is not required and renewal of registration cannot be denied on that ground. The cancellation of renewal was therefore unsustainable, and continuation of registration was upheld. en-us Tue, 07 Feb 1984 00:00:00 +0530 Wed, 17 Feb 2010 17:57:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28067 A partnership deed may validly allow a minor admitted to the benefits of the firm to elect, on attaining majority, to become a full-fledged partner without creating a new partnership. Where the deed so provides and the former minor continues on the same profit-sharing basis, the only legal change is exposure to losses as a partner. On these facts, the firm's constitution is not altered, so a fresh deed is not required and renewal of registration cannot be denied on that ground. The cancellation of renewal was therefore unsustainable, and continuation of registration was upheld. Case-Laws Income Tax Tue, 07 Feb 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28067