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

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ent) Rules, 1973, w.e.f. 1-4-1973, read as under:      "For the 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 fir....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ot exceed the amount of the capital of the firm or association shall be allocated among the partners or members in the proportion in which capital has been contributed by them;            (d) the residue, if any, of the net value of such assets shall then be allocated among the partners or members in accordance with the agreement of partnership ....