https://www.taxtmi.com/caselaws?id=70366 Interest on fixed deposits becomes includible in net wealth for wealth-tax purposes only when it has accrued and become due on the valuation date. Unaccrued interest that has not vested in the assessee is not a present enforceable claim; at most it is a future possibility or a non-transferable right to sue, which does not amount to property under section 6(e) of the Transfer of Property Act, 1882. On that basis, interest not yet due on fixed deposits is not to be added as an asset in the wealth computation, and departmental guidance and return forms were consistent with that treatment. en-us Fri, 27 Apr 1984 00:00:00 +0530 Fri, 15 Apr 2011 17:46:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70366 Interest on fixed deposits becomes includible in net wealth for wealth-tax purposes only when it has accrued and become due on the valuation date. Unaccrued interest that has not vested in the assessee is not a present enforceable claim; at most it is a future possibility or a non-transferable right to sue, which does not amount to property under section 6(e) of the Transfer of Property Act, 1882. On that basis, interest not yet due on fixed deposits is not to be added as an asset in the wealth computation, and departmental guidance and return forms were consistent with that treatment. Case-Laws Wealth-tax Fri, 27 Apr 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70366