https://www.taxtmi.com/caselaws?id=174754 Owelty payable on partition is not treated as a debt under the Kerala Agriculturists' Debt Relief Act, 1958 because it operates as a charge on the property allotted to the co-sharer receiving the larger share, akin to a vendor's charge for unpaid price. By contrast, amounts awarded as equalisation in the partition-related auction transaction were not referable to partition of landed property and were not owelty; as definite monetary liabilities owed to the other sharers, they fell within the statutory meaning of debt. The Act therefore excludes partition owelty from relief, but covers the separate auction-related monetary obligations. en-us Wed, 30 Aug 1961 00:00:00 +0530 Mon, 14 Jul 2025 16:53:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=174754 Owelty payable on partition is not treated as a debt under the Kerala Agriculturists' Debt Relief Act, 1958 because it operates as a charge on the property allotted to the co-sharer receiving the larger share, akin to a vendor's charge for unpaid price. By contrast, amounts awarded as equalisation in the partition-related auction transaction were not referable to partition of landed property and were not owelty; as definite monetary liabilities owed to the other sharers, they fell within the statutory meaning of debt. The Act therefore excludes partition owelty from relief, but covers the separate auction-related monetary obligations. Case-Laws Income Tax Wed, 30 Aug 1961 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=174754