https://www.taxtmi.com/caselaws?id=181586 In valuing unquoted shares on a break-up basis for estate duty, goodwill must be treated as a company asset and valued by the capitalisation of super-profits method, not reduced merely because the deceased held only a minority interest. The valuation concerns the goodwill of the company itself, and the Appellate Controller's approach was upheld while the Tribunal's reduction was rejected. A proposed dividend shown in the balance-sheet is not deductible in computing the break-up value of the shares, because it does not reduce the company's assets for valuation purposes. The reference was answered against the accountable person and in favour of the Revenue. en-us Fri, 18 Aug 1967 00:00:00 +0530 Wed, 20 Apr 2016 12:12:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181586 In valuing unquoted shares on a break-up basis for estate duty, goodwill must be treated as a company asset and valued by the capitalisation of super-profits method, not reduced merely because the deceased held only a minority interest. The valuation concerns the goodwill of the company itself, and the Appellate Controller's approach was upheld while the Tribunal's reduction was rejected. A proposed dividend shown in the balance-sheet is not deductible in computing the break-up value of the shares, because it does not reduce the company's assets for valuation purposes. The reference was answered against the accountable person and in favour of the Revenue. Case-Laws Income Tax Fri, 18 Aug 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181586