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720/CBDT.

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..... r, lawyer or any person following a profession, to receive his fees is a right to property and is, therefore, an asset within the meaning of section 2(e) of the Wealth-tax Act and that the fees outstanding on the valuation date would be liable to wealth-tax even if cash system of accounting is being followed by such a person. 2. The Board have since been advised that the outstanding fees of thos .....

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..... ese cases, there will be no contract, express or implied, between the said pleading advocates and lay clients for payment of the former's fees. Nor will there be any such contract between the pleading advocates of the one part and solicitors or advocates on record, as the case may be, of the other part for payment of the said pleading advocates fees. The said pleading advocates look to the solicit .....

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