https://www.taxtmi.com/caselaws?id=265123 The court upheld the disallowance of deductions under Sections 24 and 80C of the Income Tax Act, 1961, as the loan was not utilized for property acquisition. Expenses incurred on a birthday party and liquor bottles were partially allowed based on factual considerations, with the court finding no legal questions arising from these issues. The appeals were dismissed for lack of merit, emphasizing the significance of factual evidence in claiming deductions and the need for substantiated claims to avoid disallowances. en-us Thu, 27 Aug 2015 00:00:00 +0530 Tue, 06 Oct 2015 17:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265123 The court upheld the disallowance of deductions under Sections 24 and 80C of the Income Tax Act, 1961, as the loan was not utilized for property acquisition. Expenses incurred on a birthday party and liquor bottles were partially allowed based on factual considerations, with the court finding no legal questions arising from these issues. The appeals were dismissed for lack of merit, emphasizing the significance of factual evidence in claiming deductions and the need for substantiated claims to avoid disallowances. Case-Laws Income Tax Thu, 27 Aug 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265123