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<h1>Court allows deduction of interest on property loan based on precedent. Assessee wins, no costs.</h1> The HC of Bombay ruled in favor of the assessee, allowing deduction of interest paid on a loan for property construction based on a previous court ... Deduction, Income From Property The High Court of Bombay ruled in favor of the assessee, allowing deduction of interest paid on a loan for property construction. The decision was based on a previous court judgment. No costs were awarded. (Case citation: 1988 (11) TMI 8 - BOMBAY High Court)
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