Section 2 (m) deals with "net wealth" upon which tax is levied and reads as follows: "2 (m) "net wealth" means the amount by which the aggregate value computed in accordance with the provisions of this Act of all the assets, wherever located, belonging to the assessee on the valuation date, including assets required to be included in his net wealth as on that date under this Act, is in G excess of the aggregate value of all the debts owed by the assessee on the valuation date other than (i) debts which under section 6 are not to be taken into account; 640 (ii) debts which are secured on or which have been incurred in relation to any property in respect of which wealth tax is not chargeable under this Act; and (iii) the amount of the tax, penalty or interest apayable inconsequence of any order passed under or in pursuance or this Act or any law relating to taxation of income or profits, or the estate Duty Act, 1953 (34 of 1953), the Expenditure Tax Act, 1957 (29 of 1957), or the (18 of 1958), (a) which is outstanding on the valuation date and is claimed by the assessee in appeal, revision or other proceeding as not being payable by him; or.