1988 (7) TMI 21

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..... der 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 existence and the same was entitled to regist .....

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..... istration 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 Appellate Assistant Commissioner, the Dep .....

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..... nor 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 against the minor. The material clause .....

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