https://www.taxtmi.com/circulars?id=9083 Valuation issues arise when partnership shares are allotted or altered without adequate consideration. Rights to both profits and assets require adding goodwill to the market value of assets when valuing transfers for gift tax purposes. Rights to profits only are to be valued by the capitalisation of income method as set out in the governing circular. The Gift tax Officer must assess whether a gift exists by examining consideration received by the transferee - capital, labour, or both - and determine its adequacy. en-us Mon, 30 May 1977 00:00:00 +0530 Thu, 02 Jun 2011 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=9083 Valuation issues arise when partnership shares are allotted or altered without adequate consideration. Rights to both profits and assets require adding goodwill to the market value of assets when valuing transfers for gift tax purposes. Rights to profits only are to be valued by the capitalisation of income method as set out in the governing circular. The Gift tax Officer must assess whether a gift exists by examining consideration received by the transferee - capital, labour, or both - and determine its adequacy. Circulars Income Tax Mon, 30 May 1977 00:00:00 +0530 https://www.taxtmi.com/circulars?id=9083