1988 (7) TMI 21

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..... law has been referred to this court under section 256(1) of the Income-tax Act, 1961, for the assessment year 1969-70. "Whether, on the facts and in the circumstances of the case and on a proper construction of the deed dated the twenty-sixth day of December in the year one thousand nine hundred and sixty seven, the Tribunal was correct in law in holding that a genuine firm had come into existen .....

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..... asons, he also refused renewal of registration for the assessment year 1969-70. The assessee preferred an appeal before the Appellate Assistant Commissioner. The Appellate Assistant Commissioner allowed the appeals and directed the Income-tax Officer to grant registration for the assessment year 1968-69 an d renewal of registration for the assessment year 1969-70. Against the order of the Appell .....

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..... o partnership on behalf of his minor ward. A minor can never be taken as full-fledged partner. If a guardian enters into a contract of partnership on behalf of a minor, he may agree to contribute capital on behalf of the minor. Even if there is a clause that the minor has to contribute capital, if the minor does not contribute capital in pursuance of the clause, the clause cannot be enforced again .....

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