Rental income - Deduction u/s 24(b) - interest paid on the ...

Case Laws Income Tax

August 1, 2022

Rental income - Deduction u/s 24(b) - interest paid on the amount borrowed - the loan was not borrowed for the impugned Flat No.11. Assessee had claimed that the loan was used for making payment to the Tenants of Flat No.11, but mere oral recital does not hold good against the written document of loan which mentions Flat No.12 and garage 12G. - loan was not for the impugned Flat No.11, hence the assessee is not eligible for deduction u/s.24(b) of the Act for the interest paid on the amount borrowed - AT

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Rental income - Deduction u/s 24(b) - interest paid on the ...

Case Laws Income Tax

August 1, 2022

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