https://www.taxtmi.com/caselaws?id=5470 The Supreme Court interpreted section 23(2) of the Income-tax Act, 1961, regarding deductions for house property owners. The court ruled that each co-owner is entitled to a separate deduction provided for in section 23(2) based on their definite share in the property. The court emphasized that the language of section 26 supported this interpretation, even before the insertion of the Explanation in 1976. The court upheld the respondent's claim for a separate deduction and dismissed the Revenue's appeal, affirming the judgment in favor of the assessee. en-us Tue, 04 Apr 1995 00:00:00 +0530 Tue, 25 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5470 The Supreme Court interpreted section 23(2) of the Income-tax Act, 1961, regarding deductions for house property owners. The court ruled that each co-owner is entitled to a separate deduction provided for in section 23(2) based on their definite share in the property. The court emphasized that the language of section 26 supported this interpretation, even before the insertion of the Explanation in 1976. The court upheld the respondent's claim for a separate deduction and dismissed the Revenue's appeal, affirming the judgment in favor of the assessee. Case-Laws Income Tax Tue, 04 Apr 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5470