https://www.taxtmi.com/caselaws?id=35697 Goodwill passing to surviving partners under a partnership deed was treated as property passing on death for estate duty purposes, so the deceased partner's share was includible in the dutiable estate. The deed did not exclude the statutory charge merely because it governed distribution or valuation, and the accountable person failed on this issue. A penalty imposed on the firm after the deceased's death was not deductible, because a penalty liability arises only when the competent authority makes the order and was not a debt existing at the date of death. The reference was answered accordingly, in part for the revenue and in part against deduction. en-us Fri, 18 Aug 1978 00:00:00 +0530 Tue, 16 Mar 2010 11:49:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35697 Goodwill passing to surviving partners under a partnership deed was treated as property passing on death for estate duty purposes, so the deceased partner's share was includible in the dutiable estate. The deed did not exclude the statutory charge merely because it governed distribution or valuation, and the accountable person failed on this issue. A penalty imposed on the firm after the deceased's death was not deductible, because a penalty liability arises only when the competent authority makes the order and was not a debt existing at the date of death. The reference was answered accordingly, in part for the revenue and in part against deduction. Case-Laws Income Tax Fri, 18 Aug 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35697