https://www.taxtmi.com/caselaws?id=56367 For valuing a partner's right to receive partnership profits under the gift-tax valuation rules, reasonable remuneration to working partners had to be considered on the basis of the firm's accounts and assessed income for the relevant years; the authority could not reject the claim merely because the assessee had not furnished a specific figure. The lower valuation was therefore set aside and the matter remitted for fresh computation under the notification. On stamp duty credit, the record showed payment of the full amount and the short credit was treated as a typographical error, so the assessment had to be corrected to allow full credit. en-us Mon, 30 Jan 1989 00:00:00 +0530 Fri, 03 Dec 2010 12:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56367 For valuing a partner's right to receive partnership profits under the gift-tax valuation rules, reasonable remuneration to working partners had to be considered on the basis of the firm's accounts and assessed income for the relevant years; the authority could not reject the claim merely because the assessee had not furnished a specific figure. The lower valuation was therefore set aside and the matter remitted for fresh computation under the notification. On stamp duty credit, the record showed payment of the full amount and the short credit was treated as a typographical error, so the assessment had to be corrected to allow full credit. Case-Laws Income Tax Mon, 30 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56367