2001 (7) TMI 49 - HC - Income Tax

Summary

The High Court of Delhi was asked to decide whether a deceased-assessee was entitled to a deduction of 50% unearned increase when transferring a plot from the Delhi Development Authority to her grandsons. The Assessing Officer and the Appellate Assistant Commissioner had differing views on the matter, leading to the Tribunal remitting the case back for further adjudication on whether any payment was made regarding the unearned increase. The court disposed of the reference accordingly.