Supreme Court · 1984 INSC 38 · Decided 20 February 1984
Commissioner of Wealth Tax, Bihar, Patna v. Maharaja Kumar Kamal Singh
- Court
- Supreme Court of India
- Citation
- 1984 INSC 38 · [1984] 2 S.C.R. 634
- Case number
- CIVIL APPEAL No. 1238/1973
- Decided
- 20 February 1984
- Bench
- V.D. TULZAPURKAR, R.S. PATHAK, SABYASACHI MUKHERJI (3-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
Headnote
..,,.. ' . -· . · Wea/ih Tax Act, 1957, s.2'..m}-Net wc~lth~Ho~ to co1npute net wealth ,for wedlth tax assessnient-First estimate ·value of a;!J':sets as per s.7(1) and then deduct the debts owed by i1ssessee except debts':excluded by s.2(in).-Any factdi' d~tt:act1n1 fro1n , would pay for. buying that assci i11 D ope,JJ·market 1n11st be. taken into acconnt. POssibility of deducti'or/ofduesofassessqe 'for agricu!iura/inco111e·tax froinan1ount of con1pensation rmcfer s.4(c)ofBihar Land. RejOnns Act, 1950 1"s Q factor to be taken b1to
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