https://www.taxtmi.com/caselaws?id=49503 Registration under section 26A required a partnership instrument in force during the relevant accounting year to expressly specify each partner's individual shares in profits and losses. The original deed did not do so, and clauses dealing with capital, interest, remuneration, or distribution on dissolution were insufficient to satisfy that statutory requirement. A rectification deed executed after the close of the accounting year could not cure the deficiency for that year. The firm was therefore not entitled to registration, and refusal of registration was justified. en-us Mon, 13 Mar 1961 00:00:00 +0530 Sat, 30 Aug 2014 20:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49503 Registration under section 26A required a partnership instrument in force during the relevant accounting year to expressly specify each partner's individual shares in profits and losses. The original deed did not do so, and clauses dealing with capital, interest, remuneration, or distribution on dissolution were insufficient to satisfy that statutory requirement. A rectification deed executed after the close of the accounting year could not cure the deficiency for that year. The firm was therefore not entitled to registration, and refusal of registration was justified. Case-Laws Income Tax Mon, 13 Mar 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49503