https://www.taxtmi.com/caselaws?id=188738 Interest paid on instalments for allotment of property was treated as interest on borrowed capital and, on that basis, was allowable as a deduction from income from house property under section 24(1)(vi) of the Income-tax Act, 1961. The Court followed its earlier ruling on the same point, which had accepted that the interest component of instalments paid to the allotting authority satisfied the deduction requirement. The Tribunal's allowance of the deduction was therefore consistent with binding precedent, and the assessee was held entitled to the deduction. en-us Mon, 07 Feb 2005 00:00:00 +0530 Wed, 14 Dec 2016 18:11:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=188738 Interest paid on instalments for allotment of property was treated as interest on borrowed capital and, on that basis, was allowable as a deduction from income from house property under section 24(1)(vi) of the Income-tax Act, 1961. The Court followed its earlier ruling on the same point, which had accepted that the interest component of instalments paid to the allotting authority satisfied the deduction requirement. The Tribunal's allowance of the deduction was therefore consistent with binding precedent, and the assessee was held entitled to the deduction. Case-Laws Income Tax Mon, 07 Feb 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=188738