https://www.taxtmi.com/caselaws?id=49634 Characterisation of a partnership depends on the real relation of the parties shown by all relevant facts; where an instrument's terms and the parties' conduct reserve control, capital interest and management to one party, make remuneration contingent on profits, prohibit contribution or dealing by the other, and provide no sharing of losses, the arrangement operates as a master and servant or principal agent relationship rather than a partnership, and therefore does not create a firm for tax registration purposes. en-us Mon, 24 Nov 1958 00:00:00 +0530 Mon, 16 Aug 2010 16:18:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49634 Characterisation of a partnership depends on the real relation of the parties shown by all relevant facts; where an instrument's terms and the parties' conduct reserve control, capital interest and management to one party, make remuneration contingent on profits, prohibit contribution or dealing by the other, and provide no sharing of losses, the arrangement operates as a master and servant or principal agent relationship rather than a partnership, and therefore does not create a firm for tax registration purposes. Case-Laws Income Tax Mon, 24 Nov 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49634