of its transferring or selling the steel which the ass- National Ste•l essee company purchased under the :iuthority given _Wwks Lt<l._ ·by the quota allowed to it. It_ is the• assessee com· **_c.mmis•iont1'_** •• **_•f_** pany which purchases the goods - in its own name **_/r.CnM-l•x, Bombay_** and delivers them to the partnership at cost price. 'Under the original agreement of 1948, the partner- _Ra1hulmDay.JJ._ ship was to pay to the assessee company Rs. 50/· _ per ton on all steel it received -from the assessee ·company.· Clearly, therefore, the sum of Rs. 50/· per .ton represented the profit which the assessee company was getting per ton from the partnership. Under the terms of the amended agreement, no such profit was to he paid to the, assessee company for the steel received from it-after June 30, 1954, and ~t was to receive Rs. 60,000/· in a ·lump - sum. This amount, therefore, represents. the ca pit· -. alised value of the profits, the assessee company was to have on sµpplying all the steel it_ receives under its quota at net price. No right to the. quota itself has been transferred • to Irani or the partner· _ship under the agreement and therefore !here. could be no basis for considering. that this . amount of ' Rs. 60,000/· was paid in lieu of the transfer of - rights in the quota of steel to Irani or the partnel'.· , I ship. The description of the amount_ as gqqdwi)l in consideration of waiving royalty from the. p;:irtnership account on the quota of re-rollable. scrap mater.· ials received after June 30, 1954, does not conviiy the real nature of this amount and is really an ex· pression which conveys no meaning. There is no question of good will in w>iiving a rpyaJty. _ - _
