1992 (11) TMI 7 - HC - Wealth-tax

Summary

The High Court of Madras dismissed the tax case petitions regarding the inclusion of a debt of Rs. 6,29,367 in the assessable wealth of the assessee. The Tribunal upheld the Commissioner's decision that the debt had become a bad debt and should not be included in the wealth. The court found no error in the Tribunal's decision and dismissed the petitions.