https://www.taxtmi.com/caselaws?id=313193 Profit-sharing alone does not establish a partnership unless there is an agreement between all parties and business is carried on by one on behalf of all. On the facts, the documents and surrounding circumstances showed only that money was received with an undertaking to repay it with a share of profits, so partnership was not proved. Even so, the admitted receipt of funds and liability to repay supported monetary relief on the alternative loan basis. The court therefore allowed recovery of the amounts advanced, profit share, interest and accounts, despite the failure of the partnership claim. en-us Mon, 23 Apr 2001 00:00:00 +0530 Fri, 29 Mar 2024 15:43:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313193 Profit-sharing alone does not establish a partnership unless there is an agreement between all parties and business is carried on by one on behalf of all. On the facts, the documents and surrounding circumstances showed only that money was received with an undertaking to repay it with a share of profits, so partnership was not proved. Even so, the admitted receipt of funds and liability to repay supported monetary relief on the alternative loan basis. The court therefore allowed recovery of the amounts advanced, profit share, interest and accounts, despite the failure of the partnership claim. Case-Laws Indian Laws Mon, 23 Apr 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313193