https://www.taxtmi.com/caselaws?id=69518 A deceased partner's interest in a firm, including reserve fund, goodwill and profit accrued up to death, is treated as property passing on death for estate duty purposes under section 5 of the Estate Duty Act, 1953. The partnership deed's exclusion of legal heirs from direct entitlement to those components does not prevent inclusion in the principal value of the estate where the deceased's interest devolves on the surviving partners and the goodwill is correspondingly augmented. The value relatable to those items is therefore includible in the dutiable estate. en-us Fri, 08 Feb 1985 00:00:00 +0530 Thu, 07 Apr 2011 14:17:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69518 A deceased partner's interest in a firm, including reserve fund, goodwill and profit accrued up to death, is treated as property passing on death for estate duty purposes under section 5 of the Estate Duty Act, 1953. The partnership deed's exclusion of legal heirs from direct entitlement to those components does not prevent inclusion in the principal value of the estate where the deceased's interest devolves on the surviving partners and the goodwill is correspondingly augmented. The value relatable to those items is therefore includible in the dutiable estate. Case-Laws Income Tax Fri, 08 Feb 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69518