N. T. PATEL AND COMPANY vs COMMISSIONER OF INCOME-TAX, MADRAS.

The Supreme Court held that under Section 26A of the Indian Income-tax Act, 1922, registration of a partnership requires an instrument specifying the shares of partners in profits and losses. In this case, the partnership deed did not specify such shares, leading to the refusal of registration for the assessment year 1955-56. The Court emphasized that the right to registration must strictly adhere to the provisions of Section 26A, affirming the High Court's decision to refuse registration.