https://www.taxtmi.com/caselaws?id=60957 The tribunal ruled against the assessees, denying their claim for a deduction of unearned increase under Schedule III of the Wealth Tax Act. The decision was based on the finding that the assessees, as owners of flats on leasehold land in New Delhi, did not meet the conditions specified in Rule 7 for claiming the deduction. The tribunal determined that the assessees were not entitled to the deduction as they did not have to pay the unearned increase to the lessor, as it was the seller's responsibility. The appeals filed by the assessees were dismissed in favor of the revenue. en-us Thu, 27 Jul 2000 00:00:00 +0530 Mon, 10 Jan 2011 11:30:51 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60957 The tribunal ruled against the assessees, denying their claim for a deduction of unearned increase under Schedule III of the Wealth Tax Act. The decision was based on the finding that the assessees, as owners of flats on leasehold land in New Delhi, did not meet the conditions specified in Rule 7 for claiming the deduction. The tribunal determined that the assessees were not entitled to the deduction as they did not have to pay the unearned increase to the lessor, as it was the seller's responsibility. The appeals filed by the assessees were dismissed in favor of the revenue. Case-Laws Wealth-tax Thu, 27 Jul 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60957