https://www.taxtmi.com/caselaws?id=70135 Section 2(e)(v) of the Wealth-tax Act, 1957 was discussed as an exclusion limited to a short-term interest in property, not to money-lending advances secured by mortgage. A mortgage loan remained a loan despite the property security, so the principal amounts advanced on mortgage were not excluded from net wealth and were includible as taxable assets. The accrued interest on those same mortgage advances was treated on the same footing and was also includible in net wealth. The commentary therefore states that the assessee's claimed exclusion failed in full and the Revenue's additions were sustained. en-us Mon, 06 Dec 1976 00:00:00 +0530 Thu, 14 Apr 2011 15:24:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70135 Section 2(e)(v) of the Wealth-tax Act, 1957 was discussed as an exclusion limited to a short-term interest in property, not to money-lending advances secured by mortgage. A mortgage loan remained a loan despite the property security, so the principal amounts advanced on mortgage were not excluded from net wealth and were includible as taxable assets. The accrued interest on those same mortgage advances was treated on the same footing and was also includible in net wealth. The commentary therefore states that the assessee's claimed exclusion failed in full and the Revenue's additions were sustained. Case-Laws Wealth-tax Mon, 06 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70135