https://www.taxtmi.com/caselaws?id=269381 A jointly purchased property held in the names of four co-owners, with a housing loan also taken jointly, does not justify allowing the entire interest deduction to one co-owner where the deed does not specify separate shares and no evidence shows exclusive investment by that person. In the absence of proof of unequal beneficial interests, the co-owners are presumed to be equally interested in the property. Applying that principle, the interest on the housing loan under section 24(b) had to be apportioned equally among the four co-owners, so the assessee could claim only one-fourth of the total interest and the remaining disallowance was sustained. en-us Tue, 16 Jun 2015 00:00:00 +0530 Mon, 14 Dec 2015 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269381 A jointly purchased property held in the names of four co-owners, with a housing loan also taken jointly, does not justify allowing the entire interest deduction to one co-owner where the deed does not specify separate shares and no evidence shows exclusive investment by that person. In the absence of proof of unequal beneficial interests, the co-owners are presumed to be equally interested in the property. Applying that principle, the interest on the housing loan under section 24(b) had to be apportioned equally among the four co-owners, so the assessee could claim only one-fourth of the total interest and the remaining disallowance was sustained. Case-Laws Income Tax Tue, 16 Jun 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269381