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1990 (8) TMI 38 - HC - Wealth-tax

The High Court of Bombay ruled on two questions under the Wealth-tax Act, 1957 regarding outstanding fees as net wealth. Question 1 answered in favor of Revenue based on previous court decisions. Question 2 directed the Tribunal to determine the value of outstandings considering factors like bad debts and discounts. No costs ordered.

 

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