Omitted by the Wealth-tax (Second Amendment) Rules, 1989, w.e.f. 1-4-1989

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Full Text of the Document

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.... purposes of clause (xxxii) of sub-section (1) of section 5, the value of the interest of the assessee in the assets (not being any land or building or any rights in any land or building or any assets referred to in any other clause of that sub-section) forming part of an industrial undertaking belonging to a firm or an association of persons of which the assessee is a partner, or, as the case may....