https://www.taxtmi.com/caselaws?id=9423 The Tribunal ruled in favor of the assessee, holding that wealth tax could not be levied on any portion of the compensation exceeding her 1/9th share. The decision was based on the finding that the compensation money exceeding the 1/9th share was not received by the assessee and did not belong to her on the valuation date. Therefore, the Tribunal concluded that the right to compensation was extinguished upon actual receipt of the compensation, and ownership of assets on the valuation date determined the assessment of wealth tax. en-us Thu, 04 Aug 2005 00:00:00 +0530 Mon, 22 Jun 2009 18:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9423 The Tribunal ruled in favor of the assessee, holding that wealth tax could not be levied on any portion of the compensation exceeding her 1/9th share. The decision was based on the finding that the compensation money exceeding the 1/9th share was not received by the assessee and did not belong to her on the valuation date. Therefore, the Tribunal concluded that the right to compensation was extinguished upon actual receipt of the compensation, and ownership of assets on the valuation date determined the assessment of wealth tax. Case-Laws Wealth-tax Thu, 04 Aug 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9423