https://www.taxtmi.com/caselaws?id=25155 A partnership deed providing that, on retirement, the business would continue and the goodwill would vest in the surviving partners meant the outgoing partner received only the balance due on accounts. In the absence of any affirmative act by the deceased showing a disposition of goodwill in favour of relatives who later became partners, no transfer or deemed disposition arose for estate duty purposes. Accordingly, section 9 read with section 27 of the Estate Duty Act, 1953 was not attracted, and the finding was in favour of the assessee. en-us Wed, 26 Aug 1987 00:00:00 +0530 Mon, 25 Jan 2010 16:53:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=25155 A partnership deed providing that, on retirement, the business would continue and the goodwill would vest in the surviving partners meant the outgoing partner received only the balance due on accounts. In the absence of any affirmative act by the deceased showing a disposition of goodwill in favour of relatives who later became partners, no transfer or deemed disposition arose for estate duty purposes. Accordingly, section 9 read with section 27 of the Estate Duty Act, 1953 was not attracted, and the finding was in favour of the assessee. Case-Laws Income Tax Wed, 26 Aug 1987 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=25155