1980 (5) TMI 87 - AT - Income Tax

Summary

The accountable person appealed the addition of Rs. 26,000 for goodwill in the deceased's estate. The partnership deed specified that only a retiring partner could claim goodwill. The Tribunal ruled in favor of the accountable person, stating that without a specific clause in the deed, the amount should not have been included in the deceased's estate. The appeal was allowed.