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Controller of Estate Duty Vs Laxminarayan A. Suri

Case No: E.D. Ref. No. 9 of 1975

Date of Decision: April 16, 1987

Acts Referred: Estate Duty Act, 1953 — Section 10, 27(1)

Hon'ble Judges: T.D. Sugla, J; S.P. Bharucha, J

Bench: Division Bench

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Judgement

Bharucha, J.@mdashThe question that arises in this reference reads thus :

Whether, the Tribunal was right in excluding the value of 85% of the share in the goodwill of the firm of M/s. Suri Sports Industries which was

included by the Assistant Controller in the dutiable estate u/s 10 read with s. 27(1) of the Estate Duty Act of 1953 ?

2. Counsels are agreed that the question must be answered in the affirmative and in favour of the accountable person in view of this Court''s

judgment in Controller of Estate Duty, Bombay City-II Vs. Ramesh Rajaram Sakhalkar, . The question is so answered. No order as to costs.