https://www.taxtmi.com/caselaws?id=36234 For registration of a firm under the Income-tax Act, the partnership must be evidenced by an instrument specifying the partners' individual shares, but that instrument need not be confined to a single formal deed. Contemporaneous correspondence or multiple documents may together constitute the partnership instrument if they clearly record the terms of the continuing partnership. Here, the letter dated 2 December 1969 recorded the reduced number of partners and their revised profit-sharing ratios, so it could properly be treated as part of the fresh instrument of partnership. A separate formal deed was not necessary where the written record already satisfied the statutory requirement. en-us Mon, 02 Feb 1981 00:00:00 +0530 Sat, 20 Mar 2010 12:00:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36234 For registration of a firm under the Income-tax Act, the partnership must be evidenced by an instrument specifying the partners' individual shares, but that instrument need not be confined to a single formal deed. Contemporaneous correspondence or multiple documents may together constitute the partnership instrument if they clearly record the terms of the continuing partnership. Here, the letter dated 2 December 1969 recorded the reduced number of partners and their revised profit-sharing ratios, so it could properly be treated as part of the fresh instrument of partnership. A separate formal deed was not necessary where the written record already satisfied the statutory requirement. Case-Laws Income Tax Mon, 02 Feb 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36234