Supreme Court · 1983 INSC 158 · Decided 21 October 1983
Commissioner of Wealth Tax, Madras v. K. S. N. Bhatt
- Court
- Supreme Court of India
- Citation
- 1983 INSC 158 · [1984] 1 S.C.R. 490
- Case number
- CIVIL APPEAL No. 384/1978
- Decided
- 21 October 1983
- Bench
- R.S. PATHAK, E.S. VENKATARAMIAH (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act
Headnote
• Wealth Tax Act, 1957 (27 of 1957)-Sections '2(m). 2(g) and 3-Wealth tax-Liability of-Crystallieses on the valuation date/or the relevant assessment year-Computing net weaiJh-Tax liability' on valuation date-Whether ded~ctib!e as 'debt owed' • . . Gift Tax Act, 1958(/Bof1958)-Sections last date of the previous year. 0 , Income Tax' Act, 1961 (43 of 1961) Section 80B.-lncbme tax-Liability of-Crystallises on.the last date relevant to the assessment year. E (l H . . • In assessment proceedings under the Wealth Tax Act for four assessment years the assessee claimed a deduction
Judgments are the courts' own published copies, provided for study; they are not certified copies. Source: Indian Supreme Court & High Court Judgments, Dattam Labs (CC-BY-4.0)