Supreme Court · 1988 INSC 157 · Decided 9 May 1988
Commissioner of Wealth-Tax, Bhopal v. Abdul Hussain Mulla Muhammad Ali (Dead) BY L.RS.
- Court
- Supreme Court of India
- Citation
- 1988 INSC 157 · [1988] SUPP. 1 S.C.R. 227
- Case number
- CIVIL APPEAL No. 740/1975
- Decided
- 9 May 1988
- Bench
- R.S. PATHAK, M.N. VENKATACHALIAH (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
Headnote
BHOPAL v. ABDUL HUSSAIN MULLA MUHAMMAD ALI (DEAD) BY L.Rs. MAY 9, 1988 [R.S. PATHAK, CJ. AND M.N. VENKATACHALIAH, J.] Wealth Tax Act, 1957-Sections 5 and 27-Loan-Termed by assessee as. 'Quaraza-e-hasana' held includible as wealth of assessee and liable to tax. Words and Phrases: in their partnership firm. The assessee sought to have the value of that loan excluded from his wealih on the claim that this loan was what was known to Muslim Law as 'Quaraza-e­ Hasana'-a debt of good faith and goodwill carrying with it no legal obligation on the part of the debtor to repay
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