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1972 (4) TMI 15 - HC - Income TaxWhether, on the facts and in the circumstances of the case, the assessee-firm is entitled to registration - business is not yet commenced - actual existence of a business carried on by the partners is essential to constitute partnership. Since the business contemplated under the partnership deed did not commerce during the relevant accounting period, it cannot be said that there was in existence any partnership. The Tribunal therefore, was right in rejecting the application for registration
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