https://www.taxtmi.com/caselaws?id=55636 The Tribunal ruled in favor of the assessee in a dispute over the taxation of compensation received in a land acquisition case. It held that only the 1/9th share of compensation received by the assessee should be taxed as her wealth for the relevant assessment years. The Tribunal emphasized the actual receipt of compensation, converting the right to receive into hard cash, and concluded that wealth tax could not be imposed on any portion of compensation exceeding the 1/9th share received by the assessee. The appeals were allowed, rejecting the imposition of wealth tax beyond the assessee's entitled share. en-us Mon, 27 Feb 1989 00:00:00 +0530 Mon, 29 Nov 2010 11:24:06 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55636 The Tribunal ruled in favor of the assessee in a dispute over the taxation of compensation received in a land acquisition case. It held that only the 1/9th share of compensation received by the assessee should be taxed as her wealth for the relevant assessment years. The Tribunal emphasized the actual receipt of compensation, converting the right to receive into hard cash, and concluded that wealth tax could not be imposed on any portion of compensation exceeding the 1/9th share received by the assessee. The appeals were allowed, rejecting the imposition of wealth tax beyond the assessee's entitled share. Case-Laws Wealth-tax Mon, 27 Feb 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55636