https://www.taxtmi.com/caselaws?id=60834 A partnership firm was entitled to registration where the deed, read as a whole, disclosed the partners' intended profit-sharing ratio even without express fractional words. The instrument referred to distribution of profits and losses in proportion to respective shares, tied division to an earlier clause, and left unstated matters to the Partnership Act. Equal capital contribution, equal profit entries in the accounts, and the registration form showing a half-and-half ratio supported an inference of equal shares. Specification of shares under the income-tax law was therefore satisfied by the deed and surrounding facts, and refusal of registration was not sustainable. en-us Sat, 23 Mar 1985 00:00:00 +0530 Sat, 08 Jan 2011 12:28:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60834 A partnership firm was entitled to registration where the deed, read as a whole, disclosed the partners' intended profit-sharing ratio even without express fractional words. The instrument referred to distribution of profits and losses in proportion to respective shares, tied division to an earlier clause, and left unstated matters to the Partnership Act. Equal capital contribution, equal profit entries in the accounts, and the registration form showing a half-and-half ratio supported an inference of equal shares. Specification of shares under the income-tax law was therefore satisfied by the deed and surrounding facts, and refusal of registration was not sustainable. Case-Laws Income Tax Sat, 23 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60834