W.T.A.,NO.2321KB OF 2000-01, DECIDED ON 10TH NOVEMBER, 2001. versus W.T.A.,NO.2321KB OF 2000-01, DECIDED ON 10TH NOVEMBER, 2001.
Section 17B & 2 (1) (16) (ii) of the Wealth Tax Act 1963, authorizes the inspector assistant commissioner's powers to review the wealth tax officer, any property created with the assessee's assessee's permission. It is not an order of liability of net wealth against the liability on the basis that such liabilities are not against any of the assets and which are offered for wealth tax and are not permissible law. A taxable asset is not required to represent a liability. An asset that was not taxable, or acquired on an asset that was not taxable, will not be allowed to be deducted because a person may incur a liability that was not for the acquisition of any asset or Assets derived from such liability can be destroyed. Etc. Provision of section 2 (1) (16) of the Wealth Tax Act, 1963, provided that such liability is allowed as a deduction from the total value of the assets. Canceled
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