https://www.taxtmi.com/caselaws?id=59395 A statutory fiction of notional partition under the Estate Duty Act required the shares of all persons entitled on that partition to be worked out together, so aggregation of lineal descendants' interests for rate purposes was treated as valid and workable. An incoming partner's admission was not regarded as a gratuitous transfer of goodwill where the arrangement showed commercial consideration in money's worth. The goodwill valuation on a super-profits basis was upheld, while the claim for deduction of estate duty liability failed. Open land appurtenant to a self-occupied house was excluded from the dutiable estate, the development rebate reserve was computed by reference to the balance existing at death, and the insurance policy issue was remitted for fresh findings on who paid the premiums after assignment. en-us Thu, 09 Jan 1986 00:00:00 +0530 Wed, 29 Dec 2010 14:00:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59395 A statutory fiction of notional partition under the Estate Duty Act required the shares of all persons entitled on that partition to be worked out together, so aggregation of lineal descendants' interests for rate purposes was treated as valid and workable. An incoming partner's admission was not regarded as a gratuitous transfer of goodwill where the arrangement showed commercial consideration in money's worth. The goodwill valuation on a super-profits basis was upheld, while the claim for deduction of estate duty liability failed. Open land appurtenant to a self-occupied house was excluded from the dutiable estate, the development rebate reserve was computed by reference to the balance existing at death, and the insurance policy issue was remitted for fresh findings on who paid the premiums after assignment. Case-Laws Income Tax Thu, 09 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59395