| 22/8/2008 |
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| Board of Special Commissioners - Cases |
| Case No. 8/50 |
Decided: 17 January, 1953 |
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Existence of a commercial partnership is ignored by the Board in the absence of a written agreement between the partners and of reliable trade records
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Appellant complained against the fact that the Commissioner had ignored the existence of a commercial partnership with his brother; he had been taxed on the whole profits instead of half.
The Board held that the absence of a written agreement between the brothers ruled out the existence of a regular partnership. Besides, the Board noted several serious irregularities in the books of account, which not only undermined the credibility of the records but also failed to support the claim that the business was carried on in partnership. The personal accounts were scrutinised by the Board as these were of the loose-leaf type and could give rise to tampering, especially the substitution of a particular personal account with that of appellant's brother.
The Board rejected the appeal and held that the whole profits were to be charged on appellant.
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