1990 (6) TMI 30 - HC - Income Tax

Summary

The High Court of Bombay in 1990 (6) TMI 30 case ruled that the value of the goodwill in the firm of M/s. Embroiders Mart, Bombay, passed on the death of Late Shree Hargovindas Laxmidas is included in the estate under the Estate Duty Act, 1953, based on a Supreme Court decision in CED v. Mrudula Nareshchandra [1986] 160 ITR 342. The judgment favored the Revenue.