When a partnership firm is being dissolved, the goodwill of the firm is generally not valued because the firm is no longer continuing its business. In the case of dissolution, assets are typically sold, and liabilities are settled, and any remaining assets or funds are distributed among the partners. Goodwill, which represents the reputation and customer base of the business, is often not considered an asset that can be separately valued and distributed during the dissolution process.

In the other situations mentioned:

Admission of a partner: The valuation of goodwill may be needed to determine the share of the new partner and the adjustments required.

Retirement of a partner: When a partner retires, the valuation of goodwill is often required to determine the amount to be paid to the retiring partner.

Death of a partner: The valuation of goodwill may be necessary to determine the amount payable to the deceased partner's estate or legal heirs.

So, in the case of dissolution, the valuation of goodwill is typically not applicable.