https://www.taxtmi.com/caselaws?id=29114 Goodwill is an asset of a partnership, and a deed providing for continuation of the firm after a partner's death does not, by itself, extinguish the deceased partner's proprietary interest in that goodwill. Unless the partnership deed expressly or by necessary implication excludes the deceased partner or the legal representative from goodwill, the representative remains entitled to the deceased partner's share in the firm's assets, including goodwill. On that basis, the deceased partner's share in goodwill was included in the principal value of the estate and attracted estate duty. en-us Tue, 10 Mar 1981 00:00:00 +0530 Wed, 10 Mar 2010 18:34:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=29114 Goodwill is an asset of a partnership, and a deed providing for continuation of the firm after a partner's death does not, by itself, extinguish the deceased partner's proprietary interest in that goodwill. Unless the partnership deed expressly or by necessary implication excludes the deceased partner or the legal representative from goodwill, the representative remains entitled to the deceased partner's share in the firm's assets, including goodwill. On that basis, the deceased partner's share in goodwill was included in the principal value of the estate and attracted estate duty. Case-Laws Income Tax Tue, 10 Mar 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=29114