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V.G. Saraf, a 50% partner in Saraf Trading Corporation, a tea‑exporting partnership, died in 1984. The Controller of Estate Duty sought to value the firm's goodwill for estate duty using the super‑profit method with a three‑year purchase multiplier, while the respondent argued this was excessive. …
The appellant Navnitlal Sakarlal was bequeathed half of his grandfather's estate under a 1956 will that named no executor. The deceased's son, Sakarlal Balabhai, acted as legal representative and filed tax returns for the estate, being assessed on the estate's income until 1967-68. The Income Tax …
Shri Anantharamakrishnan died intestate leaving several heirs. One heir, Sivasailam, prepared the estate duty account and the other heirs agreed to be bound by his accounts. The assessing authority treated Amalgamations Private Ltd, a company that had received shares from the deceased, as a …
