https://www.taxtmi.com/caselaws?id=70135 The Tribunal held that advances made in mortgages by the assessee were not exempt under section 2(e)(v) of the Wealth-tax Act. It clarified that mortgages were akin to loans secured by property and did not qualify for the exemption provision. Therefore, the accrued interest on mortgage loans was added to the assessee's wealth. The Tribunal set aside the relief granted by the Appellate Assistant Commissioner and allowed the Revenue's appeals while dismissing the assessee's cross-objections. 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 The Tribunal held that advances made in mortgages by the assessee were not exempt under section 2(e)(v) of the Wealth-tax Act. It clarified that mortgages were akin to loans secured by property and did not qualify for the exemption provision. Therefore, the accrued interest on mortgage loans was added to the assessee's wealth. The Tribunal set aside the relief granted by the Appellate Assistant Commissioner and allowed the Revenue's appeals while dismissing the assessee's cross-objections. Case-Laws Wealth-tax Mon, 06 Dec 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70135