https://www.taxtmi.com/caselaws?id=28411 A right to claim enhanced compensation for acquired property is treated as a valuable property right and can be included in net wealth under the Wealth-tax Act, 1957. Its value is not to be fixed mechanically by reference to either the Land Acquisition Officer's award or the amount claimed in reference proceedings. The proper approach is to estimate the claim's market value realistically, having regard to the nature of the property, its marketability, surrounding circumstances, and the risk or hazard of litigation. The claim is therefore an asset for wealth-tax purposes, but its assessable value must be determined on a proper valuation basis. en-us Wed, 20 Jul 1983 00:00:00 +0530 Mon, 22 Feb 2010 12:56:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28411 A right to claim enhanced compensation for acquired property is treated as a valuable property right and can be included in net wealth under the Wealth-tax Act, 1957. Its value is not to be fixed mechanically by reference to either the Land Acquisition Officer's award or the amount claimed in reference proceedings. The proper approach is to estimate the claim's market value realistically, having regard to the nature of the property, its marketability, surrounding circumstances, and the risk or hazard of litigation. The claim is therefore an asset for wealth-tax purposes, but its assessable value must be determined on a proper valuation basis. Case-Laws Wealth-tax Wed, 20 Jul 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28411