https://www.taxtmi.com/caselaws?id=71755 A partner's relinquishment of her share in partnership goodwill on dissolution, without identifiable consideration, was treated as a gift and brought within section 9 of the Estate Duty Act; the goodwill addition was therefore sustained. The claimed indemnity against liabilities was not accepted as consideration on the facts. The exemption under section 33(1)(n) for the garage valued at Rs. 2,000 was upheld, as no error was shown in allowing that relief. The result was that the revenue addition relating to goodwill stood, while the exemption on the garage was maintained. en-us Tue, 01 Feb 1983 00:00:00 +0530 Tue, 26 Apr 2011 18:24:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71755 A partner's relinquishment of her share in partnership goodwill on dissolution, without identifiable consideration, was treated as a gift and brought within section 9 of the Estate Duty Act; the goodwill addition was therefore sustained. The claimed indemnity against liabilities was not accepted as consideration on the facts. The exemption under section 33(1)(n) for the garage valued at Rs. 2,000 was upheld, as no error was shown in allowing that relief. The result was that the revenue addition relating to goodwill stood, while the exemption on the garage was maintained. Case-Laws Income Tax Tue, 01 Feb 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71755