https://www.taxtmi.com/caselaws?id=65746 Income-tax liability arising directly from the voluntary disclosure of ornaments was deductible in computing net wealth because the disclosed ornaments were themselves included in the assessee's wealth calculation and the liability stemmed from that same disclosure. The tribunal upheld the allowance of the deduction, agreeing that the liability was a permissible charge against the disclosed asset for wealth-tax purposes, and the Department's challenge failed. en-us Mon, 29 Jan 1979 00:00:00 +0530 Fri, 18 Feb 2011 15:37:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65746 Income-tax liability arising directly from the voluntary disclosure of ornaments was deductible in computing net wealth because the disclosed ornaments were themselves included in the assessee's wealth calculation and the liability stemmed from that same disclosure. The tribunal upheld the allowance of the deduction, agreeing that the liability was a permissible charge against the disclosed asset for wealth-tax purposes, and the Department's challenge failed. Case-Laws Wealth-tax Mon, 29 Jan 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65746