...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 apart from the...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 the...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...

...unknown.16. We are of opinion that the goodwill generated in a newly commenced business cannot be described as an “asset” within the terms of Section 45, and therefore its..., 1954 showed that 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...covers all kinds of property except the 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...

...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 the firm...value of the 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...

...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 to a business. Destroy the...It will thus appear that goodwill was not shown separately in the appellants' account books, but only in the accounts of the subsidiary Company. In working out the capital of the two...were filed. The goodwill, according to the report of the architects, amounted to Rs 25 lakhs. It may be mentioned here that the subsidiary Company was using the premises under a lease granted on...

...firm and, under Section 55(1) of the Act, in settling the accounts of a firm after dissolution, the goodwill shall, subject to contract between the parties, be included in the assets and it may be sold...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 order of the Income Tax...connection, it may be mentioned that according to Section 14 of the Indian Partnership Act, property of a firm includes goodwill of the business. Further, according to Section 29(2), if a partner...

...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 subject to agreement between him and the buyer, he cannot use...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...

...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 company, it will constitute...invasion of the proprietary right, hence, the same cannot be permitted any longer. In a situation like this, it is the bounden duty and obligation of the Court not only to protect the goodwill and...reputation and goodwill of the company, it will constitute invasion of the proprietary right, hence, the same cannot be permitted any longer. In a situation like this, it is the bounden duty and...

...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 and the determination, one way or the other, has to be made on the facts and circumstances of each case(Para 18...ascertain the true nature of the transaction.This does not mean that the legal character of the transaction which is the source of the receipt can be ignored and....:(iii) Where a clause of the dissolution deed says what it means to conveys, namely, that there is an agreement to “sell and sale of goodwill” of the partnership which belonged to the...

...point of time (prior to April 2001) was limited and, therefore, it cannot be said that prior to April 2001 the plaintiff had established its goodwill and reputation in the Indian market, which the...and magazines with wide circulation all over the world since the year 1997. It is also urged that to establish goodwill and reputation it is not necessary that the mark should be recognized by every...ones. The nature of goodwill as a legal property with no physical existence means that when a business is carried on in more than one country, there must be separate goodwill in each. It is submitted...

...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.... If property exists, as it must as the clause 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...the share of 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...

...the goodwill must be represented by surplus on the sale of lands which was the stock-in-trade of the assessee company”. Regarding Question 3, the High Court held that even if the value of the stock in...Doughty case may be conveniently taken from the headnote in that case. “In 1920, two partners carrying on business in New Zealand as general merchants and drapers sold the partnership business to a...profit obtained anything different in kind from the profit obtained by a series of gradual and smaller sales. This might even be the case if the whole stock was sold out in one sale. Even in the case of...

...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...

...assets of the 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...assets must in 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...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...

...strong suggestion of the link between the three pointed star of ‘Mercedes Benz’ car and the undergarments sold by the defendant. In my view, this cannot be considered to be a ‘honest concurrent user...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 plaintiff's business is of international...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 a mark can be restricted to a...

...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...

...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 in the course of wholesale trade at the time and...of an excisable article and whatever be the wholesale cash price at which the excisable article is sold in wholesale trade at the factory gate, would represent the value of the excisable article on...sold at such place or places is to be taken as the value of the excisable article after deducting only the cost of transportation of the excisable article from the factory gate to the place or places...