https://www.taxtmi.com/caselaws?id=57436 A contingent but enforceable right to receive future coffee pool dividends was treated as an asset for wealth-tax purposes because it constituted a valuable actionable claim and was includible in net wealth. However, its valuation had to be fixed as market value on the valuation date, and the full amount later declared by the Coffee Board could not be adopted automatically because the timing and quantum of the receipt were uncertain. The right therefore required a reasonable discounted valuation rather than reliance on the later realised sum, and recomputation on that basis was directed. en-us Fri, 01 Dec 1989 00:00:00 +0530 Fri, 10 Dec 2010 11:49:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57436 A contingent but enforceable right to receive future coffee pool dividends was treated as an asset for wealth-tax purposes because it constituted a valuable actionable claim and was includible in net wealth. However, its valuation had to be fixed as market value on the valuation date, and the full amount later declared by the Coffee Board could not be adopted automatically because the timing and quantum of the receipt were uncertain. The right therefore required a reasonable discounted valuation rather than reliance on the later realised sum, and recomputation on that basis was directed. Case-Laws Wealth-tax Fri, 01 Dec 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57436