https://www.taxtmi.com/caselaws?id=55969 A debt secured on fixed deposits was deductible in computing net wealth to the extent the deposits were includible as taxable assets, so the full liability was allowed where the taxable portion exceeded the loan. Income-tax liability outstanding for more than twelve months on the valuation date was not deductible under the Wealth-tax Act, and the disallowance was restored. Accrued interest on promissory notes could not be included in net wealth without evidence that interest had actually accrued or become due on the valuation date, so the addition was deleted. en-us Thu, 30 Jun 1994 00:00:00 +0530 Tue, 30 Nov 2010 18:27:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55969 A debt secured on fixed deposits was deductible in computing net wealth to the extent the deposits were includible as taxable assets, so the full liability was allowed where the taxable portion exceeded the loan. Income-tax liability outstanding for more than twelve months on the valuation date was not deductible under the Wealth-tax Act, and the disallowance was restored. Accrued interest on promissory notes could not be included in net wealth without evidence that interest had actually accrued or become due on the valuation date, so the addition was deleted. Case-Laws Wealth-tax Thu, 30 Jun 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55969