https://www.taxtmi.com/caselaws?id=49351 A genuine partnership formed by contract remains registrable under the income-tax statute even if two partners, who also represented a divided Hindu family, are shown in the deed with shares different from those allotted under the family partition deed. Rights between family members are governed by Hindu law, while rights and liabilities in the firm are governed by partnership law; a partner may act in a personal and representative capacity at the same time. The family partition affects only internal beneficial interests and does not alter the contractual shares stated in the partnership deed for registration purposes. Cancellation of registration on that basis was therefore unjustified. en-us Wed, 04 Nov 1964 00:00:00 +0530 Mon, 23 Feb 2015 15:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49351 A genuine partnership formed by contract remains registrable under the income-tax statute even if two partners, who also represented a divided Hindu family, are shown in the deed with shares different from those allotted under the family partition deed. Rights between family members are governed by Hindu law, while rights and liabilities in the firm are governed by partnership law; a partner may act in a personal and representative capacity at the same time. The family partition affects only internal beneficial interests and does not alter the contractual shares stated in the partnership deed for registration purposes. Cancellation of registration on that basis was therefore unjustified. Case-Laws Income Tax Wed, 04 Nov 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49351