https://www.taxtmi.com/caselaws?id=24212 Goodwill for estate duty purposes is an intangible business asset arising from reputation, customer confidence, business standing and earning capacity, and it may be inferred from the nature, growth and profitability of the concern even after a relatively short period of trading. A firm carrying on multiple activities as one commercial undertaking does not have its goodwill compartmentalised by line of business unless the facts justify segregation. On the stated facts, the firm was found to have goodwill, and that goodwill was required to be valued as a whole rather than split between the money-lending and textile businesses; the Revenue's valuation was upheld. en-us Tue, 31 Jan 1989 00:00:00 +0530 Mon, 18 Jan 2010 15:44:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24212 Goodwill for estate duty purposes is an intangible business asset arising from reputation, customer confidence, business standing and earning capacity, and it may be inferred from the nature, growth and profitability of the concern even after a relatively short period of trading. A firm carrying on multiple activities as one commercial undertaking does not have its goodwill compartmentalised by line of business unless the facts justify segregation. On the stated facts, the firm was found to have goodwill, and that goodwill was required to be valued as a whole rather than split between the money-lending and textile businesses; the Revenue's valuation was upheld. Case-Laws Income Tax Tue, 31 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24212