https://www.taxtmi.com/caselaws?id=14427 Goodwill of a partnership business was treated as part of the deceased partner's estate for estate duty purposes because the partner's interest extended to the firm's assets, including goodwill, and the partnership deed made the goodwill the deceased's sole and exclusive property on dissolution. The Estate Duty Act, 1955 was applied on the basis that persons accountable are liable for property passing on death, subject to the statutory limitation linked to assets actually received or receivable. Goodwill was not excluded merely because the deceased had no specific share in each asset. The entire goodwill was therefore includible in the estate. en-us Mon, 12 Feb 2001 00:00:00 +0530 Wed, 15 Jul 2009 17:30:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14427 Goodwill of a partnership business was treated as part of the deceased partner's estate for estate duty purposes because the partner's interest extended to the firm's assets, including goodwill, and the partnership deed made the goodwill the deceased's sole and exclusive property on dissolution. The Estate Duty Act, 1955 was applied on the basis that persons accountable are liable for property passing on death, subject to the statutory limitation linked to assets actually received or receivable. Goodwill was not excluded merely because the deceased had no specific share in each asset. The entire goodwill was therefore includible in the estate. Case-Laws Income Tax Mon, 12 Feb 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14427