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1978 (9) TMI 3 - PATNA HIGH COURTExtract: .......d to be perverse. In view of this finding, the income-tax payable on the said amount is a debt owed by the assessee on the valuation date, and is thus to be excluded in computing the net wealth of the assessee. As already indicated the reference must be answered in favour of the assessee, but in the circumstances there will be no order as to costs.
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