https://www.taxtmi.com/caselaws?id=23757 Section 46(1)(b) of the Estate Duty Act, 1953 is a limitation on deduction of debts under section 44 and is aimed at preventing evasion through non-genuine debt arrangements. The phrase "at any time" is of wide import and is not confined to cases where the creditor acquired property from the deceased before the loan. Property derived from the deceased may be relevant even if acquired after the loan transaction, so long as the statutory proviso is satisfied and there is the required nexus between the debt and the derived property. The broader construction is preferred, and the contrary restrictive view is rejected. en-us Tue, 14 Mar 1989 00:00:00 +0530 Fri, 25 Dec 2009 17:38:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23757 Section 46(1)(b) of the Estate Duty Act, 1953 is a limitation on deduction of debts under section 44 and is aimed at preventing evasion through non-genuine debt arrangements. The phrase "at any time" is of wide import and is not confined to cases where the creditor acquired property from the deceased before the loan. Property derived from the deceased may be relevant even if acquired after the loan transaction, so long as the statutory proviso is satisfied and there is the required nexus between the debt and the derived property. The broader construction is preferred, and the contrary restrictive view is rejected. Case-Laws Income Tax Tue, 14 Mar 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23757