Home Case Index All Cases Wealth-tax Wealth-tax + SC Wealth-tax - 1979 (3) TMI SC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
1979 (3) TMI 1 - SUPREME COURTNet Wealth - Family Arrangement - assessee succeeded in wiping off her liability to the extent of ₹ 11,00,000 by transfer of war stock. The balance of the liability, i.e., ₹ 19,00,000, remained due and continued to be due on all the three valuation dates - Whether the sum of ₹ 19 lakhs could constitute a debt owed by the assessee and deductible under the W.T. Act from the value of the total assets as on December 31, 1959 - Held, yes
|