https://www.taxtmi.com/caselaws?id=24601 The court ruled against granting the deduction of Rs. 1,00,000 from the value of interest in immovable properties for minor partners in the case involving Tajmahal Hotel. The court aligned with the Revenue's position, emphasizing the interpretation of "net wealth" for firms, even for minors not technically classified as partners. The judgment was consistent with previous decisions and denied the deduction, ruling in favor of the Revenue without awarding costs to either party. en-us Wed, 20 Jan 1988 00:00:00 +0530 Thu, 21 Jan 2010 11:14:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24601 The court ruled against granting the deduction of Rs. 1,00,000 from the value of interest in immovable properties for minor partners in the case involving Tajmahal Hotel. The court aligned with the Revenue's position, emphasizing the interpretation of "net wealth" for firms, even for minors not technically classified as partners. The judgment was consistent with previous decisions and denied the deduction, ruling in favor of the Revenue without awarding costs to either party. Case-Laws Wealth-tax Wed, 20 Jan 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24601