https://www.taxtmi.com/caselaws?id=67432 The Tribunal upheld the rejection of the deduction claim under section 80-J, ruling that borrowed capital cannot be considered as capital employed. It directed the ITO to allow higher depreciation on house properties, including interest, once legal title vests in the assessee. The Tribunal allowed the deduction for stamp costs in executing a mortgage deed, likening the capital subsidy to a loan. A disallowance of Rs. 1000 from miscellaneous expenditure was confirmed. Overall, the appeal was partly allowed with the disallowance of Rs. 1000 upheld. en-us Sun, 20 Nov 1983 00:00:00 +0530 Thu, 10 Mar 2011 15:32:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67432 The Tribunal upheld the rejection of the deduction claim under section 80-J, ruling that borrowed capital cannot be considered as capital employed. It directed the ITO to allow higher depreciation on house properties, including interest, once legal title vests in the assessee. The Tribunal allowed the deduction for stamp costs in executing a mortgage deed, likening the capital subsidy to a loan. A disallowance of Rs. 1000 from miscellaneous expenditure was confirmed. Overall, the appeal was partly allowed with the disallowance of Rs. 1000 upheld. Case-Laws Income Tax Sun, 20 Nov 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67432