https://www.taxtmi.com/caselaws?id=7871 A statutory right to compensation arising on the vesting of estates under the U.P. Zamindari Abolition and Land Reforms Act, 1951 was held to be an asset capable of valuation for wealth-tax purposes. Although the compensation bonds were actually received after the valuation date, the right to receive them had already accrued when the estate vested, so its market value existed on the valuation date. The market value of the compensation bonds was therefore includible in the assessee's net wealth for the 1957-58 assessment year, and the issue was decided in favour of the Revenue. en-us Thu, 05 Feb 1970 00:00:00 +0530 Mon, 23 Mar 2009 11:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7871 A statutory right to compensation arising on the vesting of estates under the U.P. Zamindari Abolition and Land Reforms Act, 1951 was held to be an asset capable of valuation for wealth-tax purposes. Although the compensation bonds were actually received after the valuation date, the right to receive them had already accrued when the estate vested, so its market value existed on the valuation date. The market value of the compensation bonds was therefore includible in the assessee's net wealth for the 1957-58 assessment year, and the issue was decided in favour of the Revenue. Case-Laws Wealth-tax Thu, 05 Feb 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7871