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1995 (12) TMI 23 - ALLAHABAD HIGH COURTExtract: .......(m) will be allowed to be deducted, but if the finding is that the debt was incurred in relation to any property not chargeable to wealth-tax, then the deduction will not be allowed in view of section 2(m)(ii). The record of this reference be sent down to the Tribunal within fifteen days to pass a fresh order in the light of our above observations.
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