https://www.taxtmi.com/caselaws?id=24404 The court held that the value of the assessee's share in the goodwill of the firm was includible in the assessee's wealth for the relevant assessment years. The annual payment of Rs. 50,000 was not considered an annuity exempt under the Wealth-tax Act. The court determined that the goodwill, being an asset generating income, should be included in the assessee's net wealth. The decision favored the Revenue over the assessee, with no order as to costs. en-us Thu, 28 Jul 1988 00:00:00 +0530 Tue, 19 Jan 2010 17:13:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24404 The court held that the value of the assessee's share in the goodwill of the firm was includible in the assessee's wealth for the relevant assessment years. The annual payment of Rs. 50,000 was not considered an annuity exempt under the Wealth-tax Act. The court determined that the goodwill, being an asset generating income, should be included in the assessee's net wealth. The decision favored the Revenue over the assessee, with no order as to costs. Case-Laws Wealth-tax Thu, 28 Jul 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24404