https://www.taxtmi.com/caselaws?id=11105 The court held in favor of the Department regarding the property passing on death, determining the deceased's share at Rs. 9,000 instead of 10%. It ruled against including profits accrued at the time of death and allowed a 20% deduction for interest on capital. The court agreed with the Tribunal's decision to adopt a one-year multiplier for valuing goodwill. Additionally, it concluded that a refund determined post-death did not constitute property passing on death. The Tribunal's valuation of the deceased's share at Rs. 9,000 was upheld, leading to outcomes favoring the assessee in some aspects and the Department in others. en-us Fri, 18 Jul 2003 00:00:00 +0530 Fri, 31 Jul 2009 09:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11105 The court held in favor of the Department regarding the property passing on death, determining the deceased's share at Rs. 9,000 instead of 10%. It ruled against including profits accrued at the time of death and allowed a 20% deduction for interest on capital. The court agreed with the Tribunal's decision to adopt a one-year multiplier for valuing goodwill. Additionally, it concluded that a refund determined post-death did not constitute property passing on death. The Tribunal's valuation of the deceased's share at Rs. 9,000 was upheld, leading to outcomes favoring the assessee in some aspects and the Department in others. Case-Laws Income Tax Fri, 18 Jul 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11105