https://www.taxtmi.com/caselaws?id=70346 The ITAT allowed the appeal, directing the WTO to deduct the liability of Rs. 50,000 from the taxable value of the asset. The ITAT emphasized the link between the liability and the chargeable asset, and the binding nature of CBDT Instructions, ensuring a beneficial approach for the assessee in computing net wealth under the Wealth-tax Act, 1957. en-us Thu, 16 Dec 1982 00:00:00 +0530 Fri, 15 Apr 2011 17:02:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70346 The ITAT allowed the appeal, directing the WTO to deduct the liability of Rs. 50,000 from the taxable value of the asset. The ITAT emphasized the link between the liability and the chargeable asset, and the binding nature of CBDT Instructions, ensuring a beneficial approach for the assessee in computing net wealth under the Wealth-tax Act, 1957. Case-Laws Wealth-tax Thu, 16 Dec 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70346