W.TA. NO. 133/KB OF 1987-88, DECIDED ON 25TH MAY, 1995. versus W.TA. NO. 133/KB OF 1987-88, DECIDED ON 25TH MAY, 1995.
Wealth Tax Act 1963 Section 2 (m) (ii) Loan debt is secured against assets that are not subject to it, imposing a wealth tax is not a loan, irrespective of its subsequent use, which is a real estate tax officer. As such we justify denying I am lone WCUF04 from the morning against Section NF Bonds Security, which was not subject to the imposition of debt-to-money value.
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