https://www.taxtmi.com/caselaws?id=27467 For wealth-tax purposes, an asset is includible in net wealth only if it belongs to the assessee in law on the valuation date. Possession, contractual arrangements, or protection under section 53A of the Transfer of Property Act do not amount to ownership where no registered conveyance has been executed for immovable property of the relevant value. Applying this principle, the Crown Flour Mills continued to belong to the assessee on the valuation date, so their value was correctly included in net wealth. en-us Fri, 06 Jan 1984 00:00:00 +0530 Sat, 13 Feb 2010 10:28:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27467 For wealth-tax purposes, an asset is includible in net wealth only if it belongs to the assessee in law on the valuation date. Possession, contractual arrangements, or protection under section 53A of the Transfer of Property Act do not amount to ownership where no registered conveyance has been executed for immovable property of the relevant value. Applying this principle, the Crown Flour Mills continued to belong to the assessee on the valuation date, so their value was correctly included in net wealth. Case-Laws Wealth-tax Fri, 06 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27467