Debts incurred in relation to any property shall not be deducted in computing the net wealth of assessee.

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.... any property in respect of which wealth-tax is not chargeable under the Act shall not be deducted in computing the net wealth of the assessee. The Board have examined the question whether debts secured on or incurred in relation to assets in respect of which wealth-tax is not payable and which are not included in the net wealth of the assessee by virtue of provisions contained in section 5(1) of ....