https://www.taxtmi.com/caselaws?id=19740 A right to receive compensation for acquired land is treated as a single, indivisible asset for wealth-tax valuation, so the discount for litigation risks and uncertainties may be applied to the compensation as a whole where the valuation date so requires. The Tribunal's present-value approach, including allowance for litigation hazards, was accepted because the long course of acquisition litigation justified the discount. Interest awarded on enhanced compensation is distinct from the compensation itself and, where it was not yet ordered on the valuation date, cannot be added to the compensable asset. The Tribunal's valuation method was upheld and the Department's reference petitions were rejected. en-us Tue, 18 Oct 1994 00:00:00 +0530 Mon, 09 Nov 2009 13:37:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19740 A right to receive compensation for acquired land is treated as a single, indivisible asset for wealth-tax valuation, so the discount for litigation risks and uncertainties may be applied to the compensation as a whole where the valuation date so requires. The Tribunal's present-value approach, including allowance for litigation hazards, was accepted because the long course of acquisition litigation justified the discount. Interest awarded on enhanced compensation is distinct from the compensation itself and, where it was not yet ordered on the valuation date, cannot be added to the compensable asset. The Tribunal's valuation method was upheld and the Department's reference petitions were rejected. Case-Laws Wealth-tax Tue, 18 Oct 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19740