https://www.taxtmi.com/caselaws?id=55504 The tribunal dismissed the Revenue's appeal and accepted the assessee's cross objection, ruling that the value of the lost jewellery should be considered 'nil' instead of the reduced value of Rs. 1,20,000 set by the Dy. CWT(A). The tribunal considered the prolonged litigation, inability to recover the jewellery, and the Minister of Finance's assurance that the right to receive compensation had no market value, leading to the decision to value the jewellery at 'nil'. en-us Mon, 11 Sep 1989 00:00:00 +0530 Sat, 27 Nov 2010 13:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55504 The tribunal dismissed the Revenue's appeal and accepted the assessee's cross objection, ruling that the value of the lost jewellery should be considered 'nil' instead of the reduced value of Rs. 1,20,000 set by the Dy. CWT(A). The tribunal considered the prolonged litigation, inability to recover the jewellery, and the Minister of Finance's assurance that the right to receive compensation had no market value, leading to the decision to value the jewellery at 'nil'. Case-Laws Wealth-tax Mon, 11 Sep 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55504