https://www.taxtmi.com/caselaws?id=18695 For wealth-tax purposes, the value of a right to receive compensation is measured by the amount legally awarded and payable, not by a larger sum merely claimed by the assessee. The Tribunal was correct in including only the compensation fixed by the Land Acquisition Officer in the assessee's wealth, because the claimant's higher assertion did not determine the taxable value. Since the award had been made, that amount alone represented the assessee's entitlement for wealth-tax purposes. The question was answered in the negative, in favour of the assessee. en-us Mon, 11 Dec 1995 00:00:00 +0530 Sat, 31 Oct 2009 13:40:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18695 For wealth-tax purposes, the value of a right to receive compensation is measured by the amount legally awarded and payable, not by a larger sum merely claimed by the assessee. The Tribunal was correct in including only the compensation fixed by the Land Acquisition Officer in the assessee's wealth, because the claimant's higher assertion did not determine the taxable value. Since the award had been made, that amount alone represented the assessee's entitlement for wealth-tax purposes. The question was answered in the negative, in favour of the assessee. Case-Laws Wealth-tax Mon, 11 Dec 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18695