https://www.taxtmi.com/caselaws?id=7058 Goodwill must be valued on a broad assessment of all material business circumstances, including location, service, standing, management, competition and other relevant factors; a valuation based on an unduly narrow approach is not a lawful determination. The value of goodwill is also variable and cannot be treated as fixed across successive chargeable accounting periods, so it must be determined separately with reference to each relevant valuation date. The earlier Tribunal valuation was therefore unsustainable, and separate valuation for each accounting period was required for assessment purposes. en-us Thu, 14 Sep 1967 00:00:00 +0530 Sun, 08 Feb 2009 11:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7058 Goodwill must be valued on a broad assessment of all material business circumstances, including location, service, standing, management, competition and other relevant factors; a valuation based on an unduly narrow approach is not a lawful determination. The value of goodwill is also variable and cannot be treated as fixed across successive chargeable accounting periods, so it must be determined separately with reference to each relevant valuation date. The earlier Tribunal valuation was therefore unsustainable, and separate valuation for each accounting period was required for assessment purposes. Case-Laws Income Tax Thu, 14 Sep 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7058