https://www.taxtmi.com/caselaws?id=6976 Property allotted to a female Hindu under a partition deed, where the entitlement was traceable to an existing share, attracted section 14(1) of the Hindu Succession Act, 1956; section 14(2) did not prevent conversion into absolute ownership, and the property devolved on the assessee under section 15 on her death, so its value was includible in net wealth. Compensation received for acquired property was also includible, because the indemnity clause created only a contingent obligation to refund if entitlement failed and not an existing debt on the valuation date; it was therefore not a deductible liability under the Wealth-tax Act, 1957. en-us Tue, 08 Aug 1967 00:00:00 +0530 Sat, 07 Feb 2009 12:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=6976 Property allotted to a female Hindu under a partition deed, where the entitlement was traceable to an existing share, attracted section 14(1) of the Hindu Succession Act, 1956; section 14(2) did not prevent conversion into absolute ownership, and the property devolved on the assessee under section 15 on her death, so its value was includible in net wealth. Compensation received for acquired property was also includible, because the indemnity clause created only a contingent obligation to refund if entitlement failed and not an existing debt on the valuation date; it was therefore not a deductible liability under the Wealth-tax Act, 1957. Case-Laws Wealth-tax Tue, 08 Aug 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=6976