https://www.taxtmi.com/caselaws?id=16581 Interest paid on a mortgage created in favour of the vendor for unpaid purchase money was not deductible as interest on capital borrowed for acquiring the property, because the debt arose from the unpaid sale price after acquisition and was not borrowing from a stranger for purchase. It was also not deductible as an annual charge, because the mortgage was a voluntary charge created by the assessee and not an involuntary charge arising by law or court process. The property-income deduction claims under both provisions therefore failed. en-us Tue, 04 Mar 1997 00:00:00 +0530 Tue, 08 Sep 2009 16:07:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16581 Interest paid on a mortgage created in favour of the vendor for unpaid purchase money was not deductible as interest on capital borrowed for acquiring the property, because the debt arose from the unpaid sale price after acquisition and was not borrowing from a stranger for purchase. It was also not deductible as an annual charge, because the mortgage was a voluntary charge created by the assessee and not an involuntary charge arising by law or court process. The property-income deduction claims under both provisions therefore failed. Case-Laws Income Tax Tue, 04 Mar 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16581