...clauses (a), (b) and (c) of rule 2C, then the provisions of rule 2C(d) of the Wealth-tax Rules would apply. The Tribunal also held that the goodwill cannot be sold separately apa...agree with the view of the Appellate Assistant Commissioner in the deletion of the entire amount of Rs. 92,000 from the assessee. The Tribunal held that it cannot be stated that the firm has no goodwill...view that self-generated goodwill cannot be taken into account and it is not covered by rule 2C(d), there are no compelling and justifiable reasons to take a different view from the one taken by the...

...composite with the price of other property or right sold along with the goods. The liability to be taxed cannot also depend on the question whether the stock in trade was sold along with the goodwill of th...business or separately, or the fact that no value was fixed for the goodwill, while selling the business as a whole. Nor can I accept the proposition that when a business is sold along with the stock...amount for which goods are either bought or sold, and that the purchase or sale must be in respect of a “sale” as defined in the Act. In other words, only sales which take place in the course of trade...

...date of acquisition by the previous owner will remain unknown.16. We are of opinion that the goodwill generated in a newly commenced business cannot be described as an...the goodwill of the firm had not been valued, and the valuation would be made on dissolution of the partnership. The period of the partnership was extended by an instrument dated March 31, 1964, and...property expressly excluded by clauses (i) to (iv) of the sub-section which, it will be seen, does not include goodwill. But the definitions in Section 2 are subject to an overall restrictive clause. That...

...the accounts of a firm after dissolution, the goodwill shall, subject to contract between the partners, be included in the assets, and it may be sold either separately or along with other property of...goodwill of the firm because the goodwill of a firm may be taken into account only when there is a dissolution of the firm and in any event because Boatwalla had agreed that his interest in the...goodwill shall cease on his death and the business shall be continued by the surviving partners. The defendants do not challenge the decree of the High Court awarding to the plaintiffs Boatwalla's share in...

...considered from the nature of the business, because the goodwill of a public inn and the goodwill of a huge departmental store cannot be calculated on identical principles. The matter has been...first start .... If there is one attribute common to all cases of goodwill it is the attribute of locality. For goodwill has no independent existence. It cannot subsist by itself. It must be attached...account Rs 100 debited to the book debts accountIt will thus appear that goodwill was not shown separately in the appellants...

..., subject to contract between the parties, be included in the assets and it may be sold either separately or alongwith other properties of the firm.... Upon transfer, the share or interest in the property of...further appeal by the assessee the Tribunal held that in the circumstances of the case there could be no gift of goodwill. As appears from the statement of the case, the revenue did not seek to support the...goodwill of the business. Further, according to Section 29(2), if a partner transfers his interest and the transferring partner ceases to be a partner, the transferee is entitled as against the...

...the accounts of a firm after dissolution the goodwill shall, subject to contract between the partners, be included in the assets, and it may be sold either separately or along with other property of...sold either separately or along with the other property of the firm. Notwithstanding that the goodwill of a firm is sold after dissolution, a partners may carry on business competing with that of the buyer, but sub...the Partnership Act, which relates to agreement in restraint of trade in case the goodwill is sold after dissolution, the agreement in restraint of trade has to be only within the specified local...

...is indivisible and cannot be sold, transferred or dealt with in fragments or fractions. On the interpretation of Section 2(4A), Section 2(4C) and Section 12-B and on their...presently be made, and where Lord Macnaghten emphasised that “goodwill has no independent existence. It cannot subsist by itself. It must be attached to business”.23. In addition to the...observation at p. 585 “if there cannot be a sale by a person to himself for Income-tax purposes, there can equally be no transfer of goodwill by a person to himself”. This decision went up to the Supreme Court...

...conclusive in a case where there can be no doubt that the capital asset has been sold.(Para 3...different cases, different tests. Nonetheless, it is recognised that none of them, by itself, is conclusive and the determination, one way or the other, has to be made on the facts and circumstances of...mean that the legal character of the transaction which is the source of the receipt can be ignored and substituted by what the taxing authority considers the substance of the matter...

...valuation of the goodwill which went with the running business. The Tribunal noted that there was no question of valuing the goodwill separately because what was to be valued was the totality of interest...does not and indeed cannot say that goodwill vanishes, then share of the partner exists. If that is so then the title to that property cannot be in the vacuum...the deceased in the goodwill of the firm in which he was a partner was liable to be included in the principal value of his property. This inclusion was resisted by the accountable person on the ground...

...word, has acquired a subsidiary meaning and is fully admitted by the particular company and when a party who cannot be termed as an honest current user of the mark on the reputation and goodwill of the...and when a party who cannot be termed as an honest current user of the mark on the reputation and goodwill of the company, it will constitute invasion of the proprietary right, hence, the same cannot be...interfere with or restrain the use of the trade mark by the prior user, for, the law is well settled that even a registration by the recent user cannot be a ground to reject the plea of the prior user...

...to be injured by the misrepresentation”. The false suggestion by the defendant that his business is connected with the plaintiff's would damage the reputation and thus the goodwill of the plaintiff's...business or goodwill likely to be injured by misrepresentation. “Goodwill is the attractive force which brings in custom”. And if one steals goodwill one steals custom. [Trego v. Hunt (1896) AC 7 (13...to remember what Ford Parker said in Spalding v. Gamage (supra) at 286, 287. There may, of course be cases of so doubtful a nature that a judge cannot properly come to a conclusion without evidence...

...going concern, the value of the stock could be traced, and, therefore, the profits arising out of the sale was taxable income. Regarding the goodwill, the Tribunal observed...variation of the figures given in Items 3 to 8 in the agreement for sale, it must be held that Rs 2,50,000 shown as the value of the goodwill must be represented by surplus on the sale of lands which was the..., the first being that “if the transaction is to be treated as a sale, there was no separate sale of the stock, and no valuation of the stock as an item forming part of the aggregate which was sold...

...partnership be realised by sale of its assets, but property allotted to a family in satisfaction of his claim to his share, cannot be deemed in law to be sold to him.7...law be deemed to be sold by the partners to the individual partners in consideration of their respective shares and the difference between the written-down value and the price realised should be...business of manufacturing and selling pharmaceutical products and literature relating thereto. On July 27, 1946 the partnership was dissolved. The assets of the firm which included goodwill, machinery...

...the same as a going concern in one lot the goodwill and the furniture and other articles of the defendant firm D. Mullick & Co., attached in execution of the said decree and directed to be sold...relevant orders directing the Sheriff to sell that the property to be sold in this case was nothing else than the goodwill of the business of D. Mullick & Co. of 46.A, Netaji Subhas Road as a...attribute common to all cases of goodwill it is the attribute of locality. For goodwill has no independent existence. It cannot subsist by itself. It must be attached to a business. Destroy the business...

...may be sold either separately or along with other property of the firm.”12. In the instant case, there was no contract relating to the goodwill as such. Therefore, each will be...cannot be said that the said business did not carry any goodwill. Having arrived at the conclusion that the business had goodwill, he expressed the view that it had to be evaluated as any subsequent event...the yarn and cloth sold by them were given to the public. In these circumstances, according to the learned counsel, the firms could not have derived any goodwill and there could be no goodwill at all...

...;(ii) Where the price of excisable goods in the course of wholesale trade for delivery at the time and place of removal cannot be ascertained for the reason that such goods are not ...the Central Excises and Salt Act, 1944 shall be taken to be:(i) The price at which the excisable article is sold by the assessee to a buyer at arm's length...through its sales organisation at a place or places outside the factory gate, the price at which the excisable article is sold at such place or places is to be taken as the value of the excisable article...

...cannot be said that prior to April 2001 the plaintiff had established its goodwill and reputation in the Indian market, which the defendants had taken advantage of. The Division Bench of the High Court...year 1997. It is also urged that to establish goodwill and reputation it is not necessary that the mark should be recognized by every member of the public and it would be sufficient if persons associated...means that when a business is carried on in more than one country, there must be separate goodwill in each. It is submitted on the strength of the decision of the Federal Court of Australia in...

...trade in the same field. I find that some business are truly international in character and the reputation and goodwill attached to them cannot in fact be held being international also. The....33. Every mark with a reputation cannot be determined as a well-known mark as reputation by itself does not escalate the mark into the position of a well-known mark. The reputation of...started using the name “Eenadu” for its agarbattis and used the same artistic script, font and method of writing the name which cannot be a coincidence. The appellant is a Karnataka company and after...