https://www.taxtmi.com/caselaws?id=21245 Under the Estate Duty Act, 1953, valuation of property for estate duty is based on its hypothetical open market price at the date of death, so statutory restrictions on alienation do not justify a reduction in value. The interest of lineal descendants in joint family property is aggregated for rate purposes under section 34(1)(c). Goodwill may be inferred from a long-standing business with profits and established earning capacity. Estate duty payable on property passing on death is not deductible in computing the net principal value of the estate. en-us Mon, 14 Sep 1992 00:00:00 +0530 Sat, 21 Nov 2009 10:38:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21245 Under the Estate Duty Act, 1953, valuation of property for estate duty is based on its hypothetical open market price at the date of death, so statutory restrictions on alienation do not justify a reduction in value. The interest of lineal descendants in joint family property is aggregated for rate purposes under section 34(1)(c). Goodwill may be inferred from a long-standing business with profits and established earning capacity. Estate duty payable on property passing on death is not deductible in computing the net principal value of the estate. Case-Laws Income Tax Mon, 14 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21245