https://www.taxtmi.com/caselaws?id=35927 A deceased partner's share in the goodwill of an established partnership was treated as property passing on death and therefore includible in the principal value of the estate for estate duty purposes. In the absence of any contractual clause preserving continuity, the partnership was held to dissolve on the partner's death. The super-profits or direct valuation method for goodwill, based on average profits, a reasonable return on capital, partner remuneration, and a years' purchase multiple, was accepted as a recognised and lawful approach, and the valuation was upheld. en-us Mon, 07 Jul 1980 00:00:00 +0530 Thu, 18 Mar 2010 10:30:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=35927 A deceased partner's share in the goodwill of an established partnership was treated as property passing on death and therefore includible in the principal value of the estate for estate duty purposes. In the absence of any contractual clause preserving continuity, the partnership was held to dissolve on the partner's death. The super-profits or direct valuation method for goodwill, based on average profits, a reasonable return on capital, partner remuneration, and a years' purchase multiple, was accepted as a recognised and lawful approach, and the valuation was upheld. Case-Laws Income Tax Mon, 07 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=35927