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1990 (7) TMI 51 - BOMBAY HIGH COURTExtract: .......r the debt/loan is secured on a property (gold bonds in this case) which is not chargeable to wealth-tax. In the event the answer is in the affirmative, it must follow that the debt/loan cannot be allowed as a debt/ loan under section 2 (m) (ii). Accordingly, we answer the question in the negative and in favour of the Revenue. No order as to costs.
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