https://www.taxtmi.com/caselaws?id=248941 The ITAT Delhi disallowed the deduction claimed under section 24(b) for interest paid on capital to partners for AY 2004-05, emphasizing that the interest must be related to borrowed capital used for property purposes. For AY 2006-07, the tribunal upheld the decision to annul the reassessment by the ld. CIT(A) due to lack of fresh material and a change of opinion by the AO. en-us Wed, 25 Jun 2014 00:00:00 +0530 Mon, 30 Jun 2014 11:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=248941 The ITAT Delhi disallowed the deduction claimed under section 24(b) for interest paid on capital to partners for AY 2004-05, emphasizing that the interest must be related to borrowed capital used for property purposes. For AY 2006-07, the tribunal upheld the decision to annul the reassessment by the ld. CIT(A) due to lack of fresh material and a change of opinion by the AO. Case-Laws Income Tax Wed, 25 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=248941