https://www.taxtmi.com/caselaws?id=221594 The right to receive compensation for acquired land was considered, for net wealth purposes, only to the extent of its present value on the valuation date. The full future compensation, including any enhanced amount and related interest, was not treated as includible in wealth merely because it might later become receivable. Only the amount actually receivable on the relevant valuation date could enter net wealth, and any subsequent enhancement would be relevant only in the valuation year in which it became relevant. The Tribunal's view in favour of the assessee was upheld. en-us Wed, 06 Mar 2013 00:00:00 +0530 Tue, 19 Mar 2013 15:07:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221594 The right to receive compensation for acquired land was considered, for net wealth purposes, only to the extent of its present value on the valuation date. The full future compensation, including any enhanced amount and related interest, was not treated as includible in wealth merely because it might later become receivable. Only the amount actually receivable on the relevant valuation date could enter net wealth, and any subsequent enhancement would be relevant only in the valuation year in which it became relevant. The Tribunal's view in favour of the assessee was upheld. Case-Laws Wealth-tax Wed, 06 Mar 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221594