https://www.taxtmi.com/caselaws?id=56879 A partnership firm was treated as a genuine firm for tax registration purposes where the deed was duly executed, the registration application was timely, and partner shares were specified in accordance with Section 4 of the Indian Partnership Act, 1932. The presence of sleeping partners or alleged benamidars, and their limited participation in business affairs or withdrawals, did not by itself justify denial of registration when the capital was supported by accepted gifts. Prior assessment of share income in the hands of some partners also did not permit refusal on these facts, and the Explanation to Section 185(1)(b) of the Income-tax Act, 1961 was held not to bar registration. en-us Mon, 23 May 1977 00:00:00 +0530 Tue, 07 Dec 2010 12:26:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56879 A partnership firm was treated as a genuine firm for tax registration purposes where the deed was duly executed, the registration application was timely, and partner shares were specified in accordance with Section 4 of the Indian Partnership Act, 1932. The presence of sleeping partners or alleged benamidars, and their limited participation in business affairs or withdrawals, did not by itself justify denial of registration when the capital was supported by accepted gifts. Prior assessment of share income in the hands of some partners also did not permit refusal on these facts, and the Explanation to Section 185(1)(b) of the Income-tax Act, 1961 was held not to bar registration. Case-Laws Income Tax Mon, 23 May 1977 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56879