https://www.taxtmi.com/caselaws?id=62966 A compulsory deposit repayable by the Government in instalments is treated as a return of the depositor's own capital, not as an annuity, so it is not excluded from assets under the Wealth-tax Act, 1957 unless a statute creates a specific legal fiction to that effect. By contrast, a mere expected refund from a Government department is not an enforceable wealth-tax asset until the amount is ascertained and becomes payable. The commentary therefore distinguishes between a statutory repayment mechanism and an accrued refund claim, applying different wealth-tax treatment to each. en-us Sat, 30 Aug 1986 00:00:00 +0530 Tue, 25 Jan 2011 19:02:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=62966 A compulsory deposit repayable by the Government in instalments is treated as a return of the depositor's own capital, not as an annuity, so it is not excluded from assets under the Wealth-tax Act, 1957 unless a statute creates a specific legal fiction to that effect. By contrast, a mere expected refund from a Government department is not an enforceable wealth-tax asset until the amount is ascertained and becomes payable. The commentary therefore distinguishes between a statutory repayment mechanism and an accrued refund claim, applying different wealth-tax treatment to each. Case-Laws Wealth-tax Sat, 30 Aug 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=62966