https://www.taxtmi.com/caselaws?id=272782 A partner has no exclusive ownership in any specific partnership asset during the subsistence of the firm; his interest is limited to profits while the partnership continues and to a share in net partnership assets on dissolution or retirement. On that principle, goodwill of a continuing partnership was treated as not passing as a specific asset to the heirs on a partner's death. Because the firm continued after death, no passing of an alleged share in goodwill occurred, and inclusion of that value in the principal value of the estate under the Estate Duty Act, 1953 was not justified. en-us Wed, 01 Aug 1973 00:00:00 +0530 Thu, 17 May 2018 16:14:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=272782 A partner has no exclusive ownership in any specific partnership asset during the subsistence of the firm; his interest is limited to profits while the partnership continues and to a share in net partnership assets on dissolution or retirement. On that principle, goodwill of a continuing partnership was treated as not passing as a specific asset to the heirs on a partner's death. Because the firm continued after death, no passing of an alleged share in goodwill occurred, and inclusion of that value in the principal value of the estate under the Estate Duty Act, 1953 was not justified. Case-Laws Income Tax Wed, 01 Aug 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=272782