https://www.taxtmi.com/caselaws?id=24742 A deceased partner's share in a firm's goodwill was examined for estate duty under section 5 of the Estate Duty Act, 1953. The Court noted that earlier conflicting High Court views on whether such goodwill passed on death had been resolved by the Supreme Court, whose binding interpretation favoured inclusion. Following that settled position, the reference was answered in the negative on the stated question, and the Tribunal's contrary view was not upheld. The goodwill share was therefore treated as falling within the scope of section 5 for estate duty purposes, with the result adverse to the accountable person and in favour of the Revenue. en-us Thu, 26 Mar 1987 00:00:00 +0530 Fri, 22 Jan 2010 10:57:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24742 A deceased partner's share in a firm's goodwill was examined for estate duty under section 5 of the Estate Duty Act, 1953. The Court noted that earlier conflicting High Court views on whether such goodwill passed on death had been resolved by the Supreme Court, whose binding interpretation favoured inclusion. Following that settled position, the reference was answered in the negative on the stated question, and the Tribunal's contrary view was not upheld. The goodwill share was therefore treated as falling within the scope of section 5 for estate duty purposes, with the result adverse to the accountable person and in favour of the Revenue. Case-Laws Income Tax Thu, 26 Mar 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24742