728/CBDT.

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..... No.3 of 1970 decided in June, 1973), the Gujarat High Court held that the value of the deceased's interest in the goodwill of the firm was not includible in the estate because the clause (10) of the Partnership Deed provided that on the death of any of the partners, the firm would not stand dissolved and the legal heirs of the deceased partner would have no right in the goodwill of the firm. Simil .....

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..... m, it can be held that the other partners stand to benefit by reason of the cessor of interest of the deceased partner in the goodwill. Hence, the value of interest of the deceased in the goodwill of the firm has to be included in the estate of the deceased. 3. These instructions may be followed by all the Officers in charge other than the charges in Gujarat. The instruction may be brought to th .....

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