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1981 (4) TMI 131 - ITAT HYDERABAD-AExtract: .......minor involved, and all the three adult partners agreed to share the profits equally without any contrary intention about the sharing of losses. It, therefore follows that the losses also were agreed to be shared as provided under s. 13(b) of the Partnership Act. We therefore hold that there being no other legal infirmity. 6. The appeal is allowed.
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