https://www.taxtmi.com/caselaws?id=172540 For wealth-tax valuation of acquired land, the Collector's award was treated as the more reliable indicator of fair market value than a solitary sale of a much smaller, specially advantaged plot, and that valuation was upheld for inclusion in wealth. Solatium was held to form part of the compensation payable under the Land Acquisition Act, 1894, so it was includible in the land's value. However, once the land vested in the State, the assessee's bare right to receive compensation or enhanced compensation was only an inchoate claim and did not fall within the definition of "assets" under section 2(ea) of the Wealth-tax Act, 1957. en-us Fri, 21 May 2010 00:00:00 +0530 Tue, 25 Aug 2015 11:00:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=172540 For wealth-tax valuation of acquired land, the Collector's award was treated as the more reliable indicator of fair market value than a solitary sale of a much smaller, specially advantaged plot, and that valuation was upheld for inclusion in wealth. Solatium was held to form part of the compensation payable under the Land Acquisition Act, 1894, so it was includible in the land's value. However, once the land vested in the State, the assessee's bare right to receive compensation or enhanced compensation was only an inchoate claim and did not fall within the definition of "assets" under section 2(ea) of the Wealth-tax Act, 1957. Case-Laws Wealth-tax Fri, 21 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=172540