https://www.taxtmi.com/caselaws?id=58659 Liabilities incurred for purchasing an exempt residential flat remained deductible in computing the principal value of the estate because section 44 of the Estate Duty Act allows all deceased liabilities unless specifically barred. The flat's exemption under section 33(1)(n) did not prevent deduction of the related purchase liability, as that liability was a separate item and had not already been deducted from the flat's value. Reliance on section 2(m)(ii) of the Wealth-tax Act was rejected because a sister statute cannot impose an additional restriction not found in the principal Act. The liability was therefore allowable as a deduction. en-us Mon, 20 Jul 1981 00:00:00 +0530 Tue, 21 Dec 2010 13:48:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58659 Liabilities incurred for purchasing an exempt residential flat remained deductible in computing the principal value of the estate because section 44 of the Estate Duty Act allows all deceased liabilities unless specifically barred. The flat's exemption under section 33(1)(n) did not prevent deduction of the related purchase liability, as that liability was a separate item and had not already been deducted from the flat's value. Reliance on section 2(m)(ii) of the Wealth-tax Act was rejected because a sister statute cannot impose an additional restriction not found in the principal Act. The liability was therefore allowable as a deduction. Case-Laws Income Tax Mon, 20 Jul 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58659