https://www.taxtmi.com/caselaws?id=49316 A partnership deed must be read as a whole to determine whether a minor is admitted only to the benefits of partnership or is wrongly treated as a full partner. Where the controlling recital shows that only the major members constituted the firm and the minor was admitted to benefits, ancillary clauses on capital, duration, or accounts do not by themselves convert the minor into a full partner. A minor cannot be made liable for losses, but a guardian may accept lawful incidental terms needed to secure the minor's benefits. On that construction, the firm remains entitled to registration under income-tax law. en-us Thu, 15 Apr 1965 00:00:00 +0530 Wed, 20 Aug 2014 08:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49316 A partnership deed must be read as a whole to determine whether a minor is admitted only to the benefits of partnership or is wrongly treated as a full partner. Where the controlling recital shows that only the major members constituted the firm and the minor was admitted to benefits, ancillary clauses on capital, duration, or accounts do not by themselves convert the minor into a full partner. A minor cannot be made liable for losses, but a guardian may accept lawful incidental terms needed to secure the minor's benefits. On that construction, the firm remains entitled to registration under income-tax law. Case-Laws Income Tax Thu, 15 Apr 1965 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49316