https://www.taxtmi.com/caselaws?id=19379 For estate duty valuation, the share of lineal descendants in coparcenary residential house property is aggregated with the deceased's estate for rate purposes under section 34(1)(c), while the section 33(1)(n) exemption is confined to the deceased's own share on a notional partition and does not extend to descendants' shares. In valuing a deceased partner's interest, the firm is treated as a going concern and the valuation is taken from the balance-sheet as on the date of death, or the latest balance-sheet with necessary adjustments. Where the partnership deed limits the outgoing partner to capital and profit or loss entitlement and excludes goodwill or appreciation, those contractual limits control and notional accretions are not includible. en-us Wed, 11 Jan 1995 00:00:00 +0530 Thu, 05 Nov 2009 17:17:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19379 For estate duty valuation, the share of lineal descendants in coparcenary residential house property is aggregated with the deceased's estate for rate purposes under section 34(1)(c), while the section 33(1)(n) exemption is confined to the deceased's own share on a notional partition and does not extend to descendants' shares. In valuing a deceased partner's interest, the firm is treated as a going concern and the valuation is taken from the balance-sheet as on the date of death, or the latest balance-sheet with necessary adjustments. Where the partnership deed limits the outgoing partner to capital and profit or loss entitlement and excludes goodwill or appreciation, those contractual limits control and notional accretions are not includible. Case-Laws Income Tax Wed, 11 Jan 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19379