https://www.taxtmi.com/caselaws?id=38817 For registration of a firm, the partnership deed must disclose the partners' profit and loss shares with sufficient certainty, but the shares need not be set out in a rigid arithmetical form if they can be worked out from the instrument as a whole. Read as a whole, clause 16 was treated as adequately specifying the major partners' loss-sharing, so registration could not be refused on that ground. An omission to fill column 6 of the registration schedule was treated as a technical defect, since the deed was annexed and the profits had been divided in accordance with it; such an immaterial defect could not defeat registration. en-us Fri, 14 Jul 1972 00:00:00 +0530 Fri, 09 Apr 2010 12:09:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38817 For registration of a firm, the partnership deed must disclose the partners' profit and loss shares with sufficient certainty, but the shares need not be set out in a rigid arithmetical form if they can be worked out from the instrument as a whole. Read as a whole, clause 16 was treated as adequately specifying the major partners' loss-sharing, so registration could not be refused on that ground. An omission to fill column 6 of the registration schedule was treated as a technical defect, since the deed was annexed and the profits had been divided in accordance with it; such an immaterial defect could not defeat registration. Case-Laws Income Tax Fri, 14 Jul 1972 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38817