https://www.taxtmi.com/caselaws?id=70802 The appeal challenging the determination and quantification of goodwill in a partnership firm on the death of a partner was dismissed by the Appellate Tribunal. The Tribunal upheld the passing of goodwill to legal heirs, despite restrictive clauses in the partnership deed, citing legal precedents. The value of goodwill passing was determined at Rs. 1,55,339, considering interest on capital and tax liabilities. The decision emphasized the consistent application of legal principles in determining goodwill in partnership firms and the need for evidence to support adjustments in goodwill quantification. en-us Tue, 04 May 1982 00:00:00 +0530 Tue, 19 Apr 2011 13:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70802 The appeal challenging the determination and quantification of goodwill in a partnership firm on the death of a partner was dismissed by the Appellate Tribunal. The Tribunal upheld the passing of goodwill to legal heirs, despite restrictive clauses in the partnership deed, citing legal precedents. The value of goodwill passing was determined at Rs. 1,55,339, considering interest on capital and tax liabilities. The decision emphasized the consistent application of legal principles in determining goodwill in partnership firms and the need for evidence to support adjustments in goodwill quantification. Case-Laws Income Tax Tue, 04 May 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70802