https://www.taxtmi.com/caselaws?id=27837 Audit material may justify reopening an estate-duty assessment under section 59(b) only if the assessing authority applies its own mind and forms an independent opinion; a reopening based merely on an audit party's view is impermissible. The court did not finally decide that point and remitted it for fresh Tribunal consideration. The ownership and passing of the firm's goodwill on death also turned on the partnership deed, including clauses on change in constitution and the rights of working partners, and was likewise sent back for reconsideration. The method of valuing goodwill, including whether income-tax payable or paid must be excluded from super profits, was left open for fresh determination by the Tribunal. en-us Tue, 22 Mar 1983 00:00:00 +0530 Tue, 16 Feb 2010 13:23:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27837 Audit material may justify reopening an estate-duty assessment under section 59(b) only if the assessing authority applies its own mind and forms an independent opinion; a reopening based merely on an audit party's view is impermissible. The court did not finally decide that point and remitted it for fresh Tribunal consideration. The ownership and passing of the firm's goodwill on death also turned on the partnership deed, including clauses on change in constitution and the rights of working partners, and was likewise sent back for reconsideration. The method of valuing goodwill, including whether income-tax payable or paid must be excluded from super profits, was left open for fresh determination by the Tribunal. Case-Laws Income Tax Tue, 22 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27837