https://www.taxtmi.com/caselaws?id=58946 The Tribunal ruled in favor of the assessee, holding that neither the outstanding remuneration of Rs. 3 lakhs nor the present value of future annuities secured by annuity policies could be included in the assessee's net wealth. The Tribunal relied on precedents and clarified that outstanding remuneration for professionals under the cash system and annuity payments for film artistes should not be considered assets for wealth tax purposes until they become due and are received. As a result, the appeal was allowed in favor of the assessee. en-us Fri, 29 Jan 1982 00:00:00 +0530 Thu, 23 Dec 2010 12:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58946 The Tribunal ruled in favor of the assessee, holding that neither the outstanding remuneration of Rs. 3 lakhs nor the present value of future annuities secured by annuity policies could be included in the assessee's net wealth. The Tribunal relied on precedents and clarified that outstanding remuneration for professionals under the cash system and annuity payments for film artistes should not be considered assets for wealth tax purposes until they become due and are received. As a result, the appeal was allowed in favor of the assessee. Case-Laws Wealth-tax Fri, 29 Jan 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58946