1983 (4) TMI 27

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..... he 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 M/s. Dunkar Durrie Company. He died on 6th September, 1971 .....

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..... eath 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 was taken as a partner in her own individual capacity under .....

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..... death of one of the partners cannot be measured in terms of s. 40. Therefore, such benefit is not liable to estate duty under s. 7. We are in respectful agreement with it. In these circumstances, the question referred to us is answered in the affirmative, against the Department and in favour of the assessee, accountable person. The assessee shall be entitled to its costs which are assessed at Rs. .....

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