https://www.taxtmi.com/caselaws?id=20234 The court ruled in favor of the assessee on all three issues. It held that the assessee is entitled to the exemption under section 5(1)(iva) of the Wealth-tax Act, the entire debt liability to the Federal Bank should be deducted in computing the net wealth of the firm, and the debt secured on agricultural land is not excluded under section 2(m)(ii) of the Wealth-tax Act. en-us Tue, 13 Jul 1993 00:00:00 +0530 Thu, 12 Nov 2009 16:31:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20234 The court ruled in favor of the assessee on all three issues. It held that the assessee is entitled to the exemption under section 5(1)(iva) of the Wealth-tax Act, the entire debt liability to the Federal Bank should be deducted in computing the net wealth of the firm, and the debt secured on agricultural land is not excluded under section 2(m)(ii) of the Wealth-tax Act. Case-Laws Wealth-tax Tue, 13 Jul 1993 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20234