Case Law Details
As soon as the land of the assessee is requisitioned and stood vested in the State, he does not remain its owner and the mere inchoate right to receive the enhanced compensation cannot possibly be treated as assets and included in his wealth subsequently.
CASE LAWS DETAILS
DECIDED BY: HIGH COURT OF PUNJAB & HARYANA, IN THE CASE OF: CWT Vs. Parminder Singh, APPEAL NO: WTA Nos. 31 to 36 of 2009, DECIDED ON May 21, 2010
FACTS
Originally, Soma Devi (deceased), mother of Jarnail Singh, was the owner and in possession of the land in question, situated in village Sultanwind (Urban) and (Sub-Urban), District Amritsar. She died on 12.5.2000. During her life time, Soma Devi had sold a piece of land measuring 2 kanals 3 marlas to M/s Guru Ram Dass Charitable Trust, for a consideration of Rs.5,37,500/- on 24.4.1998. However, subsequently, the remaining entire land was acquired by the Government under the provisions of Land Acquisition Act, 1894 (hereinafter to be referred as “the LA Act”) for Improvement Trust, vide notification dated 17.11.2000. Having completed all the codal formalities, the Land Acquisition Collector (hereinafter to be referred as “the Collector”) determined the market value of the acquired land at Rs.53,20,908/-, vide award dated 28.11.2003. However, the Government had further allowed increase at the rate of 12% per annum as appreciation in the valuation of acquired land.
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