https://www.taxtmi.com/caselaws?id=70410 Goodwill can attach to a transport business because customer custom may depend on standing, organisation, management, and public reputation rather than a standardised commodity. On the facts, the impending nationalisation of bus routes did not negate goodwill on the relevant date, and the valuation at two years' purchase of super profits was treated as fair and includible in the estate duty computation. Excess remuneration was not sustainable where the deceased received the same pay as other directors and no independent basis showed the amount to be excessive in the estate duty proceedings; that disallowance was therefore deleted. en-us Mon, 29 Oct 1990 00:00:00 +0530 Sat, 16 Apr 2011 10:17:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70410 Goodwill can attach to a transport business because customer custom may depend on standing, organisation, management, and public reputation rather than a standardised commodity. On the facts, the impending nationalisation of bus routes did not negate goodwill on the relevant date, and the valuation at two years' purchase of super profits was treated as fair and includible in the estate duty computation. Excess remuneration was not sustainable where the deceased received the same pay as other directors and no independent basis showed the amount to be excessive in the estate duty proceedings; that disallowance was therefore deleted. Case-Laws Income Tax Mon, 29 Oct 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70410