https://www.taxtmi.com/caselaws?id=7775 The High Court held that the provision for payment of income-tax and super-tax, even if not quantified by an assessment order but accrued, should be deductible in computing net wealth. The court emphasized that the tax liability need not be quantified by an assessment order to be considered a debt owed. The court ruled in favor of the assessee, allowing the deduction of the provision for income-tax and super-tax in computing the net wealth for the relevant assessment years. en-us Thu, 15 Jan 1970 00:00:00 +0530 Thu, 19 Mar 2009 09:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7775 The High Court held that the provision for payment of income-tax and super-tax, even if not quantified by an assessment order but accrued, should be deductible in computing net wealth. The court emphasized that the tax liability need not be quantified by an assessment order to be considered a debt owed. The court ruled in favor of the assessee, allowing the deduction of the provision for income-tax and super-tax in computing the net wealth for the relevant assessment years. Case-Laws Wealth-tax Thu, 15 Jan 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7775