https://www.taxtmi.com/caselaws?id=56582 A statutory right to receive severance damages and solatium under the Land Acquisition Act was treated as an asset for wealth-tax purposes from the date the section 4 notification was issued, because the right arose from the acquisition scheme itself and not merely from later judicial quantification. Pending challenge to the compensation award before the Supreme Court did not extinguish that vested right or justify valuing it at nil, since quantification remained separate from accrual. The assessments were therefore to include the right in net wealth, subject to modification in accordance with the amount finally determined. en-us Tue, 15 Mar 1983 00:00:00 +0530 Sat, 04 Dec 2010 16:34:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=56582 A statutory right to receive severance damages and solatium under the Land Acquisition Act was treated as an asset for wealth-tax purposes from the date the section 4 notification was issued, because the right arose from the acquisition scheme itself and not merely from later judicial quantification. Pending challenge to the compensation award before the Supreme Court did not extinguish that vested right or justify valuing it at nil, since quantification remained separate from accrual. The assessments were therefore to include the right in net wealth, subject to modification in accordance with the amount finally determined. Case-Laws Wealth-tax Tue, 15 Mar 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=56582