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1982 (9) TMI 152 - ITAT MADRAS-DExtract: .......ctive profit sharing ratio has been violated. Even if the accounting year is 11-11-1976, the extent of profits available till then had been shared only according to the profit sharing ratio specified in the partnership deed. We found no ground to refuse registration. 6. Appeal allowed. The ITO is directed to grant registration to the assessee-firm.
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