https://www.taxtmi.com/caselaws?id=59130 A right to future receipts may be valued for wealth-tax by capitalising expected annual income on an appropriate years-purchase basis, with valuation depending on a realistic multiple rather than an arbitrary figure. Where annuity policies are received as an assignee and the record is incomplete, the taxability of that interest must be re-examined by reference to the actual policy documents and the law governing assignment of income. The discussion also treats royalty receivable on record sales as an existing valuable right capable of wealth-tax valuation, while requiring recomputation of value on a proper basis. en-us Wed, 07 Sep 1988 00:00:00 +0530 Sat, 25 Dec 2010 11:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59130 A right to future receipts may be valued for wealth-tax by capitalising expected annual income on an appropriate years-purchase basis, with valuation depending on a realistic multiple rather than an arbitrary figure. Where annuity policies are received as an assignee and the record is incomplete, the taxability of that interest must be re-examined by reference to the actual policy documents and the law governing assignment of income. The discussion also treats royalty receivable on record sales as an existing valuable right capable of wealth-tax valuation, while requiring recomputation of value on a proper basis. Case-Laws Wealth-tax Wed, 07 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59130