https://www.taxtmi.com/caselaws?id=29166 The High Court of Andhra Pradesh upheld the decision of the Income Tax Appellate Tribunal, ruling that a firm with eight partners was not a genuine partnership due to six partners being mere name-lenders. The court emphasized the importance of the partnership deed reflecting true intentions and actions of the partners. Citing legal principles, the court distinguished between benami and sham transactions, affirming the ITO's right to reject registration if the partnership is not genuine. The firm was deemed ineligible for registration under the Income-tax Act, 1961, with the assessee directed to bear the reference costs. en-us Fri, 21 Sep 1979 00:00:00 +0530 Thu, 11 Mar 2010 12:19:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29166 The High Court of Andhra Pradesh upheld the decision of the Income Tax Appellate Tribunal, ruling that a firm with eight partners was not a genuine partnership due to six partners being mere name-lenders. The court emphasized the importance of the partnership deed reflecting true intentions and actions of the partners. Citing legal principles, the court distinguished between benami and sham transactions, affirming the ITO's right to reject registration if the partnership is not genuine. The firm was deemed ineligible for registration under the Income-tax Act, 1961, with the assessee directed to bear the reference costs. Case-Laws Income Tax Fri, 21 Sep 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29166