https://www.taxtmi.com/caselaws?id=36522 A unilateral blending of self-acquired property into the common stock of a Hindu joint family was treated as neither a gift inter vivos nor a disposition attracting estate duty under sections 10 and 27 of the Estate Duty Act, 1953, so the blended amount was excluded from the estate. By contrast, goodwill was recognised as an asset of the firm and property within section 2(15); in the absence of a partnership term excluding heirs, the deceased partner's share in goodwill devolved on death and its value was includible in the principal value of the estate. The matter thus resulted in exclusion of the blending amount but inclusion of the goodwill value. en-us Fri, 28 Mar 1980 00:00:00 +0530 Tue, 23 Mar 2010 10:17:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36522 A unilateral blending of self-acquired property into the common stock of a Hindu joint family was treated as neither a gift inter vivos nor a disposition attracting estate duty under sections 10 and 27 of the Estate Duty Act, 1953, so the blended amount was excluded from the estate. By contrast, goodwill was recognised as an asset of the firm and property within section 2(15); in the absence of a partnership term excluding heirs, the deceased partner's share in goodwill devolved on death and its value was includible in the principal value of the estate. The matter thus resulted in exclusion of the blending amount but inclusion of the goodwill value. Case-Laws Income Tax Fri, 28 Mar 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36522