https://www.taxtmi.com/caselaws?id=12845 The court affirmed the Tribunal's decision to delete a sum from the assessee's net wealth for multiple assessment years, clarifying that only received compensation should be considered, not the value of the plot. The right to compensation was deemed an asset for wealth tax purposes, with future compensation taxable upon receipt. The court emphasized assessing the present value of future compensation and confirmed that any further compensation received would be subject to taxation in the hands of the recipient. en-us Wed, 01 Aug 2001 00:00:00 +0530 Fri, 22 May 2009 15:06:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12845 The court affirmed the Tribunal's decision to delete a sum from the assessee's net wealth for multiple assessment years, clarifying that only received compensation should be considered, not the value of the plot. The right to compensation was deemed an asset for wealth tax purposes, with future compensation taxable upon receipt. The court emphasized assessing the present value of future compensation and confirmed that any further compensation received would be subject to taxation in the hands of the recipient. Case-Laws Income Tax Wed, 01 Aug 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12845