https://www.taxtmi.com/caselaws?id=11482 A partner's interest in partnership goodwill is property and extends to a share in all partnership assets, including goodwill. On the death of a partner, that interest passes and its value is includible in the principal value of the estate for estate duty valuation. Goodwill was treated as an intangible asset reflecting the earning capacity and reputation of the business, and the finding that the firm had goodwill was supported by the business arrangements, renewal over time, and surrounding circumstances, with no perversity shown. The deceased partner's share in the goodwill was therefore rightly brought into the estate for duty purposes. en-us Tue, 13 Aug 2002 00:00:00 +0530 Mon, 10 Aug 2009 17:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11482 A partner's interest in partnership goodwill is property and extends to a share in all partnership assets, including goodwill. On the death of a partner, that interest passes and its value is includible in the principal value of the estate for estate duty valuation. Goodwill was treated as an intangible asset reflecting the earning capacity and reputation of the business, and the finding that the firm had goodwill was supported by the business arrangements, renewal over time, and surrounding circumstances, with no perversity shown. The deceased partner's share in the goodwill was therefore rightly brought into the estate for duty purposes. Case-Laws Income Tax Tue, 13 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11482