After acquisition and vesting of all rights of a land in State, mere speculative right to receive compensation/enhanced compensation is not and cannot possibly be treated as an asset under section 2(ea) of the Wealth-tax Act

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-Urba...