https://www.taxtmi.com/caselaws?id=255861 The Tribunal allowed both appeals, directing the AO to allow the claimed deductions for the repayment of the developer's loan as allowable expenditure under Section 48(i) or 48(ii) of the Income Tax Act. This decision was based on the finding that the mortgage was created by the developer, and the repayment was necessary to clear the encumbrance and preserve the property rights. en-us Wed, 31 Dec 2014 00:00:00 +0530 Thu, 29 Jan 2015 06:31:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=255861 The Tribunal allowed both appeals, directing the AO to allow the claimed deductions for the repayment of the developer's loan as allowable expenditure under Section 48(i) or 48(ii) of the Income Tax Act. This decision was based on the finding that the mortgage was created by the developer, and the repayment was necessary to clear the encumbrance and preserve the property rights. Case-Laws Income Tax Wed, 31 Dec 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=255861