https://www.taxtmi.com/caselaws?id=24686 In valuing a deceased person's right to receive compensation for acquired land, the open market value as on the date of death is the governing basis. The amount ultimately payable is not conclusive, because marketability, uncertainty of recovery, delay in finalisation of the award, and the possibility of litigation are relevant factors. Litigation risk may therefore justify a further discount after applying valuation principles, and no rigid percentage or hard and fast rule applies. On the facts described, the Tribunal's additional discount for risk was upheld and the valuation was accepted in favour of the assessee. en-us Mon, 05 Sep 1988 00:00:00 +0530 Thu, 21 Jan 2010 16:44:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24686 In valuing a deceased person's right to receive compensation for acquired land, the open market value as on the date of death is the governing basis. The amount ultimately payable is not conclusive, because marketability, uncertainty of recovery, delay in finalisation of the award, and the possibility of litigation are relevant factors. Litigation risk may therefore justify a further discount after applying valuation principles, and no rigid percentage or hard and fast rule applies. On the facts described, the Tribunal's additional discount for risk was upheld and the valuation was accepted in favour of the assessee. Case-Laws Income Tax Mon, 05 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24686