https://www.taxtmi.com/caselaws?id=26122 Deduction of an estate debt was upheld where the liability remained outstanding at death and the Tribunal treated the account as a running account; the borrowing was not disallowed merely because the funds had been used in relation to assets later brought into the estate. Repayments made within two years of death were also excluded from deemed estate inclusion because section 46(2) depends on the debt first falling within section 46(1), which was not established on the facts. The additional issue on sections 10 and 12 was declined as incompetent. en-us Fri, 29 Mar 1985 00:00:00 +0530 Wed, 03 Feb 2010 10:09:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26122 Deduction of an estate debt was upheld where the liability remained outstanding at death and the Tribunal treated the account as a running account; the borrowing was not disallowed merely because the funds had been used in relation to assets later brought into the estate. Repayments made within two years of death were also excluded from deemed estate inclusion because section 46(2) depends on the debt first falling within section 46(1), which was not established on the facts. The additional issue on sections 10 and 12 was declined as incompetent. Case-Laws Income Tax Fri, 29 Mar 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26122