https://www.taxtmi.com/caselaws?id=18638 The court held that self-generated goodwill, not reflected in the balance-sheet, should not be included in the assessee's net wealth under section 7(2) of the Wealth-tax Act, 1957. The court ruled in favor of the assessee, stating that self-generated goodwill should not be considered for valuation purposes unless it has been purchased for a price and shown in the balance-sheet. The Tribunal's decision to exclude the value of self-generated goodwill from the net wealth assessment was upheld, with costs not awarded. en-us Thu, 12 Oct 1995 00:00:00 +0530 Sat, 31 Oct 2009 10:38:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18638 The court held that self-generated goodwill, not reflected in the balance-sheet, should not be included in the assessee's net wealth under section 7(2) of the Wealth-tax Act, 1957. The court ruled in favor of the assessee, stating that self-generated goodwill should not be considered for valuation purposes unless it has been purchased for a price and shown in the balance-sheet. The Tribunal's decision to exclude the value of self-generated goodwill from the net wealth assessment was upheld, with costs not awarded. Case-Laws Wealth-tax Thu, 12 Oct 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18638