https://www.taxtmi.com/caselaws?id=6990 An income-tax demand pursued through the certificate procedure and the Public Demands Recovery Act retained its character as a tax liability, so it remained excluded from deduction as a debt under section 2(m)(iii)(b) of the Wealth-tax Act despite being outstanding beyond twelve months. The Court also held that the computation provision in section 2(m)(iii) fell within Parliament's legislative competence under Entry 86 of List I, since deductions and exclusions are part of determining net wealth and do not make the provision ultra vires. The constitutional vires question was treated as outside the scope of the reference because a Tribunal cannot decide constitutional validity. en-us Thu, 17 Aug 1967 00:00:00 +0530 Sat, 07 Feb 2009 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6990 An income-tax demand pursued through the certificate procedure and the Public Demands Recovery Act retained its character as a tax liability, so it remained excluded from deduction as a debt under section 2(m)(iii)(b) of the Wealth-tax Act despite being outstanding beyond twelve months. The Court also held that the computation provision in section 2(m)(iii) fell within Parliament's legislative competence under Entry 86 of List I, since deductions and exclusions are part of determining net wealth and do not make the provision ultra vires. The constitutional vires question was treated as outside the scope of the reference because a Tribunal cannot decide constitutional validity. Case-Laws Wealth-tax Thu, 17 Aug 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6990