https://www.taxtmi.com/caselaws?id=37402 For estate duty purposes, a deceased partner's share in a firm, including goodwill, was to be valued according to the partnership deed where the deed expressly fixed the amount payable to the legal representatives. The deceased's interest passing on death was therefore assessed on the contractual basis. Separately, the cesser of that interest also conferred a distinct benefit on the surviving partners, and that benefit was to be measured by the market value of the goodwill, less the amount the survivors were contractually bound to pay under the deed. The earlier Australian authority was not treated as governing this separate valuation question. en-us Wed, 08 Jan 1975 00:00:00 +0530 Mon, 29 Mar 2010 14:00:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37402 For estate duty purposes, a deceased partner's share in a firm, including goodwill, was to be valued according to the partnership deed where the deed expressly fixed the amount payable to the legal representatives. The deceased's interest passing on death was therefore assessed on the contractual basis. Separately, the cesser of that interest also conferred a distinct benefit on the surviving partners, and that benefit was to be measured by the market value of the goodwill, less the amount the survivors were contractually bound to pay under the deed. The earlier Australian authority was not treated as governing this separate valuation question. Case-Laws Income Tax Wed, 08 Jan 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37402