https://www.taxtmi.com/caselaws?id=61288 Compensation awarded by the Motor Accident Claims Tribunal was not an enforceable asset on the date of the award where the State immediately challenged it in the High Court. The amount became includible in the assessee's net wealth only when the claim attained finality after the High Court's decision and expiry of the further appeal period, because only then did the right to receive the compensation crystallise. An interim deposit directed by the High Court did not create an unconditional or absolute ownership interest. The interest component followed the same treatment and was taxable in the year the compensation claim crystallised. en-us Mon, 16 Jan 1984 00:00:00 +0530 Wed, 12 Jan 2011 10:56:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61288 Compensation awarded by the Motor Accident Claims Tribunal was not an enforceable asset on the date of the award where the State immediately challenged it in the High Court. The amount became includible in the assessee's net wealth only when the claim attained finality after the High Court's decision and expiry of the further appeal period, because only then did the right to receive the compensation crystallise. An interim deposit directed by the High Court did not create an unconditional or absolute ownership interest. The interest component followed the same treatment and was taxable in the year the compensation claim crystallised. Case-Laws Wealth-tax Mon, 16 Jan 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61288