https://www.taxtmi.com/caselaws?id=65697 The Appellate Tribunal ITAT GAUHATI ruled in favor of the accountable person, holding that the addition on account of goodwill of the deceased's proprietary kirana business was not justified. The Tribunal determined that the nature of the business, being a common kirana business in a small place with no distinguishing features to indicate reputable goodwill, did not warrant the inclusion of goodwill in the computation of the dutiable estate. Therefore, the Tribunal allowed the appeal, concluding that the kirana business had no goodwill, and rejected the method adopted by the Assistant Controller for computing goodwill. en-us Sat, 27 May 1978 00:00:00 +0530 Mon, 23 Jan 2012 17:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65697 The Appellate Tribunal ITAT GAUHATI ruled in favor of the accountable person, holding that the addition on account of goodwill of the deceased's proprietary kirana business was not justified. The Tribunal determined that the nature of the business, being a common kirana business in a small place with no distinguishing features to indicate reputable goodwill, did not warrant the inclusion of goodwill in the computation of the dutiable estate. Therefore, the Tribunal allowed the appeal, concluding that the kirana business had no goodwill, and rejected the method adopted by the Assistant Controller for computing goodwill. Case-Laws Income Tax Sat, 27 May 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65697