https://www.taxtmi.com/caselaws?id=26985 A right to receive compensation for acquired land is property and therefore an asset for wealth-tax purposes, but its value must be determined on the relevant valuation date by considering marketability, litigation risk, and incidental costs. The later civil court award cannot be adopted mechanically in full for valuation under the Wealth-tax Act. The right is not a mere right to sue; it is a subsisting and valuable property right that continues until finally quantified. The enhanced amount may be valued after making appropriate reductions for the hazards and expenditure involved in securing it. en-us Wed, 19 Sep 1984 00:00:00 +0530 Tue, 09 Feb 2010 18:36:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26985 A right to receive compensation for acquired land is property and therefore an asset for wealth-tax purposes, but its value must be determined on the relevant valuation date by considering marketability, litigation risk, and incidental costs. The later civil court award cannot be adopted mechanically in full for valuation under the Wealth-tax Act. The right is not a mere right to sue; it is a subsisting and valuable property right that continues until finally quantified. The enhanced amount may be valued after making appropriate reductions for the hazards and expenditure involved in securing it. Case-Laws Wealth-tax Wed, 19 Sep 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26985