ORDER

1. The High Court having considered the relevant terms of the partnership deed in question has reached the conclusion that the minors were admitted as full-fledged partners and therefore the partnership deed was not liable to be registered. The view taken by the High Court was doubted for the subsequent year of assessment and the question was referred to a Full Bench. The Full Bench in C.I.T. v. Uttam Kumar Pramod Kumar{(1978) 115 ITR 796}has reiterated the view taken by the Division Bench in the earlier assessment year.

2. We have examined the terms of the partnership deed by ourselves. We are unable to take a different view expressed by the High Court. Although the preamble of the deed provides that the minors were admitted to the benefits of partnership deed, the dominant intention of the parties as appears from the other terms of the deed unmistakably points out that the minors were, in fact, admitted as full partners and not for benefits. There is, therefore, no reason to disagree with the conclusion of the High Court.

3. The civil appeal is dismissed with no order as to costs.

For Citation : 1992 (Supp) 504 (2) SCC.

Vikas Info Solutions Pvt. Ltd.