1990 (7) TMI 61

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.... C. J. -The question referred under section 27(1) of the Wealth -tax Act, 1957, is : "Whether, on the facts and in the circumstances of the case, the debt relating to the taxable wealth after allowing exemption tinder section 5 ( 1 ) (iv) of the Act was allowable to the assessee ? One of the assets included in the wealth of the assessee was a house property. It was valued at Rs. 5,00,000. It....