https://www.taxtmi.com/caselaws?id=63809 The Tribunal held that the assessee was not entitled to a deduction under section 24(1)(vi) of the Income-tax Act for interest paid on borrowed amounts used for surrendering tenancy rights. It was ruled that the property referred to in the section must be physical, such as buildings or land appurtenant thereto, and not just an interest in property. The Tribunal emphasized that the interpretation of "property" in this context is limited to physical structures, leading to the reversal of the CIT(A)'s decision in favor of the Department. en-us Fri, 18 Nov 2005 00:00:00 +0530 Wed, 02 Feb 2011 10:38:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63809 The Tribunal held that the assessee was not entitled to a deduction under section 24(1)(vi) of the Income-tax Act for interest paid on borrowed amounts used for surrendering tenancy rights. It was ruled that the property referred to in the section must be physical, such as buildings or land appurtenant thereto, and not just an interest in property. The Tribunal emphasized that the interpretation of "property" in this context is limited to physical structures, leading to the reversal of the CIT(A)'s decision in favor of the Department. Case-Laws Income Tax Fri, 18 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63809