https://www.taxtmi.com/caselaws?id=28897 The court affirmed the Tribunal's interpretation of the proviso to section 5(1A) of the Wealth-tax Act, 1957, holding that the maximum deduction allowable under section 5(1A) would be the value of assets under specific clauses if it exceeded Rs. 1.5 lakhs. The court confirmed the Tribunal's decision, providing clarity on the permissible deduction limits under the Act. The legality of the order passed under section 35 was not extensively discussed in the judgment. en-us Tue, 07 Apr 1981 00:00:00 +0530 Mon, 08 Mar 2010 15:00:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28897 The court affirmed the Tribunal's interpretation of the proviso to section 5(1A) of the Wealth-tax Act, 1957, holding that the maximum deduction allowable under section 5(1A) would be the value of assets under specific clauses if it exceeded Rs. 1.5 lakhs. The court confirmed the Tribunal's decision, providing clarity on the permissible deduction limits under the Act. The legality of the order passed under section 35 was not extensively discussed in the judgment. Case-Laws Wealth-tax Tue, 07 Apr 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28897