https://www.taxtmi.com/caselaws?id=62413 Reopened wealth-tax proceedings may permit inquiry into the assessee's correct status where the claimed classification affects the taxable hands and the matter requires factual examination. The document states that a statutory right to receive compensation under the Madras Estates (Abolition and Conversion into Ryotwari) Act accrues when the compensation order under section 39(1) is passed; later determination of individual shares affects quantification, not accrual. It also notes that an agricultural land valuation at Shoreham Palace, Ooty, was found excessive on the comparable material and reduced to a more realistic figure, with the assessment directed to be modified accordingly. en-us Mon, 25 Oct 1976 00:00:00 +0530 Wed, 19 Jan 2011 17:32:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62413 Reopened wealth-tax proceedings may permit inquiry into the assessee's correct status where the claimed classification affects the taxable hands and the matter requires factual examination. The document states that a statutory right to receive compensation under the Madras Estates (Abolition and Conversion into Ryotwari) Act accrues when the compensation order under section 39(1) is passed; later determination of individual shares affects quantification, not accrual. It also notes that an agricultural land valuation at Shoreham Palace, Ooty, was found excessive on the comparable material and reduced to a more realistic figure, with the assessment directed to be modified accordingly. Case-Laws Wealth-tax Mon, 25 Oct 1976 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62413