https://www.taxtmi.com/caselaws?id=15623 The High Court held that the deduction of wealth-tax liability should be based on the amount assessed by the Wealth-tax Officer, not on the estimated wealth-tax on the returned figure. The Court ruled in favor of the assessee, emphasizing that the deduction should include the amount assessed on the net wealth, as per previous Supreme Court decisions. The judgment clarified the correct interpretation of the law, highlighting the importance of following authoritative decisions in determining wealth-tax liability deductions. en-us Wed, 19 Nov 1997 00:00:00 +0530 Wed, 26 Aug 2009 13:47:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15623 The High Court held that the deduction of wealth-tax liability should be based on the amount assessed by the Wealth-tax Officer, not on the estimated wealth-tax on the returned figure. The Court ruled in favor of the assessee, emphasizing that the deduction should include the amount assessed on the net wealth, as per previous Supreme Court decisions. The judgment clarified the correct interpretation of the law, highlighting the importance of following authoritative decisions in determining wealth-tax liability deductions. Case-Laws Income Tax Wed, 19 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15623