https://www.taxtmi.com/caselaws?id=7136 Reassessment under the Wealth-tax Act may be initiated on the basis of "information" derived from a judicial decision, as the term includes knowledge of the correct legal position as well as factual material. Unpaid compensation instalments payable after the valuation date were includible in net wealth because the right to receive compensation had accrued under a present and enforceable government obligation from the date of resumption, notwithstanding deferred payment. Such instalments constituted a debt owed to the assessee and a cash asset, without requiring market valuation. The reference was answered in favour of the department on both issues. en-us Mon, 27 Nov 1967 00:00:00 +0530 Wed, 11 Feb 2009 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7136 Reassessment under the Wealth-tax Act may be initiated on the basis of "information" derived from a judicial decision, as the term includes knowledge of the correct legal position as well as factual material. Unpaid compensation instalments payable after the valuation date were includible in net wealth because the right to receive compensation had accrued under a present and enforceable government obligation from the date of resumption, notwithstanding deferred payment. Such instalments constituted a debt owed to the assessee and a cash asset, without requiring market valuation. The reference was answered in favour of the department on both issues. Case-Laws Wealth-tax Mon, 27 Nov 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7136