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2014 (7) TMI 1206 - AT - Wealth-taxAssets mortgaged to bank - inclusion in net wealth of the assessee - Held that:- The properties mortgaged to the bank cannot be held as assets belonging to the assessee u/s.2(m) of the W.T. Act. We, therefore, set-aside the order of the CWT(A) and direct the Assessing Officer to delete the assets mortgaged to the bank from the net wealth of the assessee. See CIT Vs. Thressiamma Abraham [1996 (12) TMI 25 - KERALA High Court] - Decided in favour of assessee
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