https://www.taxtmi.com/circulars?id=4437 If a subsequent borrowing is in fact used solely to discharge the original loan that financed the property, and this use is proved to the satisfaction of the assessing officer, the interest paid on the subsequent borrowing is treated as interest on borrowed capital for the property and is allowable as a deduction. en-us Wed, 20 Aug 1969 00:00:00 +0530 Tue, 29 Jul 2008 17:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/circulars?id=4437 If a subsequent borrowing is in fact used solely to discharge the original loan that financed the property, and this use is proved to the satisfaction of the assessing officer, the interest paid on the subsequent borrowing is treated as interest on borrowed capital for the property and is allowable as a deduction. Circulars Income Tax Wed, 20 Aug 1969 00:00:00 +0530 https://www.taxtmi.com/circulars?id=4437