https://www.taxtmi.com/caselaws?id=20472 The High Court upheld the Tribunal's decisions, granting relief to the assessee by allowing the deduction of Rs. 72,000 in computing net maintainable rent under rule 1BB of the Wealth tax Rules and rejecting the assessment of Rs. 5,13,566 and Rs. 5,88,138 to wealth-tax for the assessment years 1984-85 and 1985-86 under sub-section (3) of section 40 of the Finance Act, 1983. The Court found that the Wealth-tax Officer was not justified in adding the sum of Rs. 72,000 and that undischarged liabilities towards municipal taxes could not be considered as a debt secured on assets taxable under the relevant clause. en-us Mon, 20 Jul 1992 00:00:00 +0530 Sat, 14 Nov 2009 11:43:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20472 The High Court upheld the Tribunal's decisions, granting relief to the assessee by allowing the deduction of Rs. 72,000 in computing net maintainable rent under rule 1BB of the Wealth tax Rules and rejecting the assessment of Rs. 5,13,566 and Rs. 5,88,138 to wealth-tax for the assessment years 1984-85 and 1985-86 under sub-section (3) of section 40 of the Finance Act, 1983. The Court found that the Wealth-tax Officer was not justified in adding the sum of Rs. 72,000 and that undischarged liabilities towards municipal taxes could not be considered as a debt secured on assets taxable under the relevant clause. Case-Laws Wealth-tax Mon, 20 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20472