https://www.taxtmi.com/caselaws?id=21012 The Court ruled in favor of the assessee, determining that tax deductions at source under section 192 of the Income-tax Act, unpaid for over 12 months, are not subject to the limitations of section 2(m)(iii) of the Wealth-tax Act, 1957. The judgment clarified that liabilities must stem from orders under relevant tax laws to be excluded from net wealth computation, emphasizing that statutory obligations like tax deductions at source do not fall under this exclusion. The decision provides clarity on the deductibility of such liabilities, distinguishing them from liabilities arising from specific orders under tax laws. en-us Wed, 17 Jun 1992 00:00:00 +0530 Wed, 18 Nov 2009 16:30:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21012 The Court ruled in favor of the assessee, determining that tax deductions at source under section 192 of the Income-tax Act, unpaid for over 12 months, are not subject to the limitations of section 2(m)(iii) of the Wealth-tax Act, 1957. The judgment clarified that liabilities must stem from orders under relevant tax laws to be excluded from net wealth computation, emphasizing that statutory obligations like tax deductions at source do not fall under this exclusion. The decision provides clarity on the deductibility of such liabilities, distinguishing them from liabilities arising from specific orders under tax laws. Case-Laws Wealth-tax Wed, 17 Jun 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21012