https://www.taxtmi.com/caselaws?id=59914 Ad hoc ex gratia relief paid by the Government of India for properties left in Pakistan was not a taxable asset in net wealth because the assessee had no subsisting right, title or interest in the properties after vesting in Pakistan. The relief was expressly offered on a gratuitous, interim basis from the Consolidated Fund of India, was adjustable on restoration of the properties, and did not create an enforceable debt or actionable claim. On that basis, no valuable right capable of valuation arose for wealth-tax purposes, and the addition made by the first appellate authority was unsustainable. en-us Tue, 25 Mar 1986 00:00:00 +0530 Sat, 01 Jan 2011 17:52:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59914 Ad hoc ex gratia relief paid by the Government of India for properties left in Pakistan was not a taxable asset in net wealth because the assessee had no subsisting right, title or interest in the properties after vesting in Pakistan. The relief was expressly offered on a gratuitous, interim basis from the Consolidated Fund of India, was adjustable on restoration of the properties, and did not create an enforceable debt or actionable claim. On that basis, no valuable right capable of valuation arose for wealth-tax purposes, and the addition made by the first appellate authority was unsustainable. Case-Laws Wealth-tax Tue, 25 Mar 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59914