https://www.taxtmi.com/caselaws?id=63991 A debt secured by equitable mortgage through deposit of title deeds over a building remained deductible as a debt secured on the chargeable asset for wealth-tax computation. The description of the security as collateral did not change its legal character, because the relevant factors were the existence of the debt, the deposit of title deeds, and the intention to create security. Registration was not required for such an equitable mortgage. On that basis, the secured liability was treated as directly linked to the building and the revenue's additions were deleted. en-us Tue, 02 Apr 1996 00:00:00 +0530 Thu, 03 Feb 2011 10:16:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63991 A debt secured by equitable mortgage through deposit of title deeds over a building remained deductible as a debt secured on the chargeable asset for wealth-tax computation. The description of the security as collateral did not change its legal character, because the relevant factors were the existence of the debt, the deposit of title deeds, and the intention to create security. Registration was not required for such an equitable mortgage. On that basis, the secured liability was treated as directly linked to the building and the revenue's additions were deleted. Case-Laws Wealth-tax Tue, 02 Apr 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63991