https://www.taxtmi.com/caselaws?id=39263 The court required the Central Board of Direct Taxes to address questions of law regarding the existence of goodwill in partnership firms and the computation of the deceased's share in it for estate duty assessment. It was held that the share in the goodwill of partnership firms passes to the legal representatives of the deceased partner. On the valuation of jewellery and household effects, discrepancies were found, leading to the court ruling in favor of the department on goodwill evaluation but in favor of the assessee on the valuation of jewellery, with parties bearing their own costs. en-us Fri, 06 Dec 1974 00:00:00 +0530 Wed, 14 Apr 2010 11:58:32 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=39263 The court required the Central Board of Direct Taxes to address questions of law regarding the existence of goodwill in partnership firms and the computation of the deceased's share in it for estate duty assessment. It was held that the share in the goodwill of partnership firms passes to the legal representatives of the deceased partner. On the valuation of jewellery and household effects, discrepancies were found, leading to the court ruling in favor of the department on goodwill evaluation but in favor of the assessee on the valuation of jewellery, with parties bearing their own costs. Case-Laws Income Tax Fri, 06 Dec 1974 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=39263