https://www.taxtmi.com/circulars?id=8681 Additional income tax liabilities determined in settlement proceedings are deductible as debts for the valuation date relevant to each assessment year when computing net wealth; this differs from liabilities arising from voluntary disclosure, which are not to be deducted for prior valuation dates. The Board directs issuance of instructions to Wealth Tax Officers to apply this deductible treatment, relying on Supreme Court precedents on the characterisation of such tax liabilities. en-us Fri, 03 Apr 1970 00:00:00 +0530 Wed, 25 May 2011 15:01:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=8681 Additional income tax liabilities determined in settlement proceedings are deductible as debts for the valuation date relevant to each assessment year when computing net wealth; this differs from liabilities arising from voluntary disclosure, which are not to be deducted for prior valuation dates. The Board directs issuance of instructions to Wealth Tax Officers to apply this deductible treatment, relying on Supreme Court precedents on the characterisation of such tax liabilities. Circulars Income Tax Fri, 03 Apr 1970 00:00:00 +0530 https://www.taxtmi.com/circulars?id=8681