https://www.taxtmi.com/circulars?id=10315 Where land is under acquisition, pre-vesting valuation may be based on the market value ascertained by court determinations; after the Collector takes possession and vesting occurs the asset shifts from the land to the right to receive compensation, which is an indivisible property right assessable from the date of vesting. If additional compensation is claimed and referred to court, that claim may be included in net wealth without deductions for uncertainty, while tax demands on disputed differences may be kept in abeyance with recovery safeguards. en-us Mon, 20 Jan 1975 00:00:00 +0530 Mon, 13 Jun 2011 15:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=10315 Where land is under acquisition, pre-vesting valuation may be based on the market value ascertained by court determinations; after the Collector takes possession and vesting occurs the asset shifts from the land to the right to receive compensation, which is an indivisible property right assessable from the date of vesting. If additional compensation is claimed and referred to court, that claim may be included in net wealth without deductions for uncertainty, while tax demands on disputed differences may be kept in abeyance with recovery safeguards. Circulars Income Tax Mon, 20 Jan 1975 00:00:00 +0530 https://www.taxtmi.com/circulars?id=10315