https://www.taxtmi.com/caselaws?id=56303 The majority judgment in the case held that self-generated goodwill should not be included in the net wealth of the assessee for wealth-tax assessment purposes. The Tribunal emphasized the need for a harmonious construction of the Wealth-tax Act and Rules, interpreting them in a manner that does not enhance the tax liability of the assessee beyond what the charging provisions allow. The dissenting opinion by U.T. Shah, J.M., supported the inclusion of self-generated goodwill in the net wealth based on a broad interpretation of the definition of "net wealth" and specific provisions in the partnership deed. en-us Sun, 11 Jun 1995 00:00:00 +0530 Thu, 02 Dec 2010 18:38:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56303 The majority judgment in the case held that self-generated goodwill should not be included in the net wealth of the assessee for wealth-tax assessment purposes. The Tribunal emphasized the need for a harmonious construction of the Wealth-tax Act and Rules, interpreting them in a manner that does not enhance the tax liability of the assessee beyond what the charging provisions allow. The dissenting opinion by U.T. Shah, J.M., supported the inclusion of self-generated goodwill in the net wealth based on a broad interpretation of the definition of "net wealth" and specific provisions in the partnership deed. Case-Laws Wealth-tax Sun, 11 Jun 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56303