https://www.taxtmi.com/caselaws?id=24722 The High Court directed the Tribunal to reevaluate the justification of a payment made to a retired partner for the use of goodwill, emphasizing the importance of considering inheritance rights. The court highlighted the need for a supplementary statement to clarify the inheritance aspect before determining the allowability of deductions in the computation of business income. The judgment underscores the significance of assessing all relevant factors and conducting a comprehensive evaluation before reaching a final decision on such matters. en-us Sat, 16 Jan 1988 00:00:00 +0530 Fri, 22 Jan 2010 10:03:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24722 The High Court directed the Tribunal to reevaluate the justification of a payment made to a retired partner for the use of goodwill, emphasizing the importance of considering inheritance rights. The court highlighted the need for a supplementary statement to clarify the inheritance aspect before determining the allowability of deductions in the computation of business income. The judgment underscores the significance of assessing all relevant factors and conducting a comprehensive evaluation before reaching a final decision on such matters. Case-Laws Income Tax Sat, 16 Jan 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24722