1995 (1) TMI 11

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....w has been referred under section 27(1) of the Wealth-tax Act, 1957 (for short "the Act") : " Whether, on the facts and in the circumstances of the case and in terms of section 2(m)(ii) of the Wealth-tax Act, 1957, the Tribunal was justified in allowing deduction of loan raised against fixed deposit receipt ?" The assessee claimed a sum of Rs. 38,720 as deduction from assets being the amount....