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1975 (7) TMI 51 - HC - Wealth-taxExtract: ....... for the a ment year beginning on the 1st of April following is a debt owed within the meaning of section 2(m) of the Act, and should be deducted from the estimated value of the assets as on the valuation date. In view of this decision the question No. 2 referred to us is answered in the affirmative. The revenue shall pay the costs of the assessee.
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