https://www.taxtmi.com/caselaws?id=58687 The tribunal partially allowed the appeals related to the disallowance of deduction of debts incurred in acquiring shares for the assessment years 1973-74 to 1975-76. The tribunal determined that for the first two assessment years, where the value of shares exceeded the debts after exemptions, no disallowance could be made. However, for the third assessment year, the disallowance was limited to the excess of debts over the value of shares post-exemption. The tribunal also noted a ground regarding the addition of the value of silver utensils was not pursued, resulting in partial allowance of the appeals. en-us Thu, 22 Dec 1983 00:00:00 +0530 Tue, 21 Dec 2010 15:39:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58687 The tribunal partially allowed the appeals related to the disallowance of deduction of debts incurred in acquiring shares for the assessment years 1973-74 to 1975-76. The tribunal determined that for the first two assessment years, where the value of shares exceeded the debts after exemptions, no disallowance could be made. However, for the third assessment year, the disallowance was limited to the excess of debts over the value of shares post-exemption. The tribunal also noted a ground regarding the addition of the value of silver utensils was not pursued, resulting in partial allowance of the appeals. Case-Laws Wealth-tax Thu, 22 Dec 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58687