A.O. to consider the repayment of liabilities of the donor, made ...

Interest on Borrowings for Donor's Liability Repayment Deductible u/s 24(b) as House Property Expense.

May 27, 2016

Case Laws     Income Tax     AT

A.O. to consider the repayment of liabilities of the donor, made by the assessee as that which is incurred to perfect his title of the property and thus it is cost of improvement and consequentially the borrowings made for the same is to be taken as that which is for incurring the cost of improvement of the property and consequentially the interest expenditure incurred should be allowable u/s 24(b) from House Property Income - AT

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