https://www.taxtmi.com/caselaws?id=204813 The Tribunal allowed the assessee's appeal on the interest deduction issue, citing a CBDT Circular allowing deduction on a subsequent loan used to repay the original loan for property construction. The additions of rental income and notional interest were deleted by the CIT(A) and upheld by the Tribunal. The estimation of profit on construction was remitted to the CIT(A) for further review. The Revenue's appeal was partly allowed for statistical purposes. en-us Fri, 22 Oct 2010 00:00:00 +0530 Tue, 19 Apr 2011 12:14:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=204813 The Tribunal allowed the assessee's appeal on the interest deduction issue, citing a CBDT Circular allowing deduction on a subsequent loan used to repay the original loan for property construction. The additions of rental income and notional interest were deleted by the CIT(A) and upheld by the Tribunal. The estimation of profit on construction was remitted to the CIT(A) for further review. The Revenue's appeal was partly allowed for statistical purposes. Case-Laws Income Tax Fri, 22 Oct 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=204813