https://www.taxtmi.com/caselaws?id=26402 Goodwill valuation must reflect the nature and circumstances of the business, including its standing, location, profit potential, and the stability of its earnings source. On the facts, the firm had no exclusive agency, depended materially on the manufacturer's discretion, and the deceased held a 56% share; in that setting, valuation on two years' purchase of super profits was fair and reasonable. The Tribunal's refusal to adopt a three years' purchase basis was therefore upheld as not unreasonable. en-us Wed, 16 Oct 1985 00:00:00 +0530 Thu, 04 Feb 2010 17:30:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26402 Goodwill valuation must reflect the nature and circumstances of the business, including its standing, location, profit potential, and the stability of its earnings source. On the facts, the firm had no exclusive agency, depended materially on the manufacturer's discretion, and the deceased held a 56% share; in that setting, valuation on two years' purchase of super profits was fair and reasonable. The Tribunal's refusal to adopt a three years' purchase basis was therefore upheld as not unreasonable. Case-Laws Income Tax Wed, 16 Oct 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26402