1981 (8) TMI 63

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....The facts which have given rise to this reference under s. 64(1) of the E.D. Act, 1953, made at the instance of the Controller of Estate Duty are that the deceased Chimanlal Kapurchand Dalal was partner in the firm of M/s. Chunilal & Co. At the date of death of the, deceased, there were five partners in the said firm including the deceased, the deceased's share being 33-1/3rd per cent. The ques....

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....m of partnership property, treat it as if the deceased partner had a defined, specific share in it and include the value of such share to his estate passing on death. It is contended by Mr. Joshi, learned counsel for the department, that in this case the value of the assets other than the goodwill exceeded the total liability and that the dispute was with respect to the valuation to be placed upon....