1983 (4) TMI 27

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....Income-tax Appellate Tribunal, Allahabad, has referred the following question of law for the opinion of this court: Whether, on the facts and in the circumstances of the case, the Tribunal was in law justified in holding that no goodwill passed on the death of Shri Ram Bharosey Lal either u/s. 5 or u/s. 7 of the E.D. Act, 1953 ? " It has been found that one Ram Bharosey Lal was a partner in ....

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.... found that not only the partnership came to an end due to death of Ram Bharosey Lal but no benefit could accrue under it of goodwill to the accountable person. Further, a fresh partnership deed was entered into between Ram Prakash, the only surviving partner in the firm, and the accountable person, that is, wife of Ram Bharosey Lal, on 28th December, 1971. From this it was inferred that the lady ....