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1962 (8) TMI 126 - HIGH COURT OF MADRASExtract: .......the tax case referred to above, we must hold that the amount mentioned in the second question cannot be regarded as a debt owed by the assessee and cannot, therefore, be deducted from the valuation of the assets. This question is also answered against the assessee. 15. The assessee will pay the costs of the department Counsel's fee ₹ 250.
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