https://www.taxtmi.com/caselaws?id=270436 The High Court upheld the Tribunal's decision, dismissing the revenue's appeal. The Court emphasized the direct nexus between the borrowed capital, property acquisition, and interest liability in allowing the deduction under Section 24(1)(vi) of the Income Tax Act. The judgment in Commissioner of Income-Tax v. Sunil Kumar Sharma supported the allowance of the interest portion of the purchase price of the let-out property as a deduction. en-us Tue, 08 Sep 2015 00:00:00 +0530 Wed, 06 Jan 2016 09:58:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=270436 The High Court upheld the Tribunal's decision, dismissing the revenue's appeal. The Court emphasized the direct nexus between the borrowed capital, property acquisition, and interest liability in allowing the deduction under Section 24(1)(vi) of the Income Tax Act. The judgment in Commissioner of Income-Tax v. Sunil Kumar Sharma supported the allowance of the interest portion of the purchase price of the let-out property as a deduction. Case-Laws Income Tax Tue, 08 Sep 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=270436