1980 (5) TMI 87

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.... adding Rs. 26,000 on account of goodwill in the principal estate of the deceased. 2. Shri Bansilal Ritkaran Mundada died on 31st Dec., 1976. He was partner in the firm of M/s. Ritkaran Bansilal Mundada having 30 per cent share. The firm was doing business in cattle feed and Bhusar on wholesale and kirana on retail basis. The firm had long standing reputation of over 25 years and was carrying o....

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....fic clause namely clause. No. 15 in the partnership deed which speaks of goodwill that only a retiring partner will be entitled to goodwill and no other partner. There is no question of adding of any amount on account of goodwill. Shri Sathe, the learned departmental representative, on the other hand stated that the property has passed on the death of the deceased and goodwill and though it did....