https://www.taxtmi.com/caselaws?id=7873 Impartible estate property, although ancestral, is generally treated as the holder's separate property except for the limited incident of succession. A statutory fiction governing apportionment of abolition compensation among specified sharers and maintenance-holders remains confined to that distributional purpose; it does not make compensation received by a sharer joint family property. Accordingly, impartible assets are assessable in the holder's individual status, while any genuinely partible assets may belong to the joint family. Unpaid abolition compensation may constitute an asset in net wealth where the State has a present liability to pay an ascertainable sum, even if final quantification occurs later. en-us Fri, 19 Sep 1969 00:00:00 +0530 Mon, 23 Mar 2009 11:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7873 Impartible estate property, although ancestral, is generally treated as the holder's separate property except for the limited incident of succession. A statutory fiction governing apportionment of abolition compensation among specified sharers and maintenance-holders remains confined to that distributional purpose; it does not make compensation received by a sharer joint family property. Accordingly, impartible assets are assessable in the holder's individual status, while any genuinely partible assets may belong to the joint family. Unpaid abolition compensation may constitute an asset in net wealth where the State has a present liability to pay an ascertainable sum, even if final quantification occurs later. Case-Laws Wealth-tax Fri, 19 Sep 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7873