TMI Blog1980 (1) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... . GOVINDA BHAT. JUDGMENT The judgment of the court was delivered by GOVINDA BHAT J.-This is a reference under section 64(1) of the Estate Duty Act, 1953. One Rastapur Muniappa died on August 19, 1961. The deceased along with his son constituted a Hindu undivided family at the time of his death. The deceased had a one-half share in the joint family business. Since the deceased died on August ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... computation had to be made under section 34(1)(c) of the Act since the Amending Act of 1958 had come into force from 1960, before the date of the death of the deceased. Against the order of the Appellate Controller the accountable person preferred an appeal to the Tribunal ; but before the Tribunal, the accountable person was not represented, and the Tribunal disposed of the appeal after hearing t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty under section 34(1)(c) legal and valid ? " On the first question there can be no doubt that goodwill of the business is an asset. It was not seriously pressed before us that such goodwill is not an asset. The value of the half share of the deceased as computed by the Tribunal is not open to question before us. Therefore, question No. 1 is answered in the affirmative, in favour of the revenue. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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