https://www.taxtmi.com/caselaws?id=40055 A deceased partner's interest in the goodwill of a continuing partnership is property for estate duty purposes, because a partner's share extends to the firm's assets, including goodwill. On death, the cessation of that interest confers benefit on the surviving partners, and a private stipulation denying the deceased partner or heirs any right in goodwill does not prevent the property from passing or being deemed to pass on death. Difficulties in apportionment do not make the asset non-taxable. The value of the deceased partner's share in goodwill must therefore be included in the principal value of the estate under the applicable valuation provisions. en-us Fri, 09 May 1986 00:00:00 +0530 Wed, 30 Jul 2014 09:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=40055 A deceased partner's interest in the goodwill of a continuing partnership is property for estate duty purposes, because a partner's share extends to the firm's assets, including goodwill. On death, the cessation of that interest confers benefit on the surviving partners, and a private stipulation denying the deceased partner or heirs any right in goodwill does not prevent the property from passing or being deemed to pass on death. Difficulties in apportionment do not make the asset non-taxable. The value of the deceased partner's share in goodwill must therefore be included in the principal value of the estate under the applicable valuation provisions. Case-Laws Indian Laws Fri, 09 May 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=40055