COMMISSIONER OF INCOME TAX BOMBAY Vs. DHURMAL BAJAJ AND CO

JUDGEMENT

(1.) THE question of law that has been referred for decision is :

(2.) ON 11th September, 1950, three persons named below entered into a document of partnership. They were :

(3.) THEY carried on the business under the name and style of Messrs. Dhurmal Bajaj at Bombay. On 14th April, 1953, they entered into a document of partnership which gives rise to the present reference. The preamble of that document recites that the erstwhile partners have "agreed by mutual consent to admit Ramnivas Dhurmal, a minor, to the benefits of this partnership on the under-mentioned share and whereas it is now desired to place on record the terms of their said partnership, now this indenture witnesseth the as under. . . "