https://www.taxtmi.com/caselaws?id=268896 Where a house property is jointly purchased by four co-owners and the sale deed does not specify separate shares, the presumption under section 45 of the Transfer of Property Act is that the co-owners hold equal interests. The housing-loan interest deduction under section 24(b) must therefore be apportioned equally among them, and in the absence of evidence that one co-owner alone funded the acquisition or construction, a claim to the entire interest deduction is not supportable. The concurrent factual findings supporting this apportionment were not shown to be perverse or based on misreading of evidence. en-us Thu, 26 Nov 2015 00:00:00 +0530 Fri, 04 Dec 2015 15:18:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=268896 Where a house property is jointly purchased by four co-owners and the sale deed does not specify separate shares, the presumption under section 45 of the Transfer of Property Act is that the co-owners hold equal interests. The housing-loan interest deduction under section 24(b) must therefore be apportioned equally among them, and in the absence of evidence that one co-owner alone funded the acquisition or construction, a claim to the entire interest deduction is not supportable. The concurrent factual findings supporting this apportionment were not shown to be perverse or based on misreading of evidence. Case-Laws Income Tax Thu, 26 Nov 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=268896