1997 (1) TMI 43

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....-This is a petition under section 64(1) of the Estate Duty Act, 1953, for directing the Income-tax Appellate Tribunal, Amritsar Bench, Amritsar, to make reference of the question of law framed by the petitioner to the High Court for its opinion. The late Shri Inder Mohan Khanna was a partner in Khanna Dyeing and Milling Works, Amritsar, with a 20 per cent. share. He died on December 30, 1978. I....

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....d, therefore, his goodwill has no value. The Assistant Controller of Estate Duty did not agree with the contention of the accountable person and ordered the addition of Rs. 1,65,822 to the principal value of the estate of the deceased for the purpose of levy of estate duty. The Appellate Controller of Estate Duty before whom an appeal was filed by the accountable person concurred with the Assistan....

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....law. The decision of the Gujarat High Court in Smt. Mrudula Nareshchandra v. CED [1975] 100 ITR 297, has been partly reversed by the Supreme Court and the decision of this court in State v. Prem Nath [1977] 106 ITR 446 [FB] which supports the case set up by the Revenue has been approved by the Supreme Court. Therefore, we are of the opinion that the following question of law arises in the insta....