https://www.taxtmi.com/caselaws?id=14036 The High Court of Delhi ruled against the assessee, holding that the interest paid on delayed payments of unearned increase was not deductible under section 48(i) of the Income-tax Act, 1961 for the assessment year 1972-73. The Court found that the interest payment was not wholly and exclusively in connection with the transfer of the property but rather related to belatedly making a payment demanded by the Land and Development Officer. The judgment underscores the requirement that expenses for deduction under section 48(i) must be directly and exclusively linked to the transfer of the capital asset. en-us Mon, 09 Jul 2001 00:00:00 +0530 Tue, 07 Jul 2009 17:07:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14036 The High Court of Delhi ruled against the assessee, holding that the interest paid on delayed payments of unearned increase was not deductible under section 48(i) of the Income-tax Act, 1961 for the assessment year 1972-73. The Court found that the interest payment was not wholly and exclusively in connection with the transfer of the property but rather related to belatedly making a payment demanded by the Land and Development Officer. The judgment underscores the requirement that expenses for deduction under section 48(i) must be directly and exclusively linked to the transfer of the capital asset. Case-Laws Income Tax Mon, 09 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14036