https://www.taxtmi.com/caselaws?id=7845 A right to compensation under the West Bengal Estates Acquisition Act, 1953 was treated as inchoate until the statutory compensation assessment roll was finally published and the amount became crystallised. Because the entitlement was still uncertain, could be nil after statutory deductions, and had not become a legally realisable transfer, it was not an "asset" for Wealth-tax purposes on the valuation dates. The right was also inseparably linked to agricultural land, which remained outside the Wealth-tax Act's asset definition. The commentary therefore concludes that an indeterminate expectancy to receive acquisition compensation cannot be included in net wealth before final statutory crystallisation. en-us Thu, 19 Feb 1970 00:00:00 +0530 Thu, 19 Mar 2009 17:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7845 A right to compensation under the West Bengal Estates Acquisition Act, 1953 was treated as inchoate until the statutory compensation assessment roll was finally published and the amount became crystallised. Because the entitlement was still uncertain, could be nil after statutory deductions, and had not become a legally realisable transfer, it was not an "asset" for Wealth-tax purposes on the valuation dates. The right was also inseparably linked to agricultural land, which remained outside the Wealth-tax Act's asset definition. The commentary therefore concludes that an indeterminate expectancy to receive acquisition compensation cannot be included in net wealth before final statutory crystallisation. Case-Laws Wealth-tax Thu, 19 Feb 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7845