https://www.taxtmi.com/caselaws?id=20693 The High Court of ALLAHABAD ruled in favor of the Revenue, denying the deduction of interest paid on a loan for a Hindu undivided family owning a building mortgaged against the loan. The court held that the mortgage was a voluntary act by the assessee, making the charge for interest payment ineligible for deduction under section 24(1)(iv) of the Income-tax Act, 1961. The decision emphasized the distinction between voluntary and involuntary charges in determining deduction eligibility under the Act. en-us Thu, 24 Sep 1992 00:00:00 +0530 Mon, 16 Nov 2009 15:58:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=20693 The High Court of ALLAHABAD ruled in favor of the Revenue, denying the deduction of interest paid on a loan for a Hindu undivided family owning a building mortgaged against the loan. The court held that the mortgage was a voluntary act by the assessee, making the charge for interest payment ineligible for deduction under section 24(1)(iv) of the Income-tax Act, 1961. The decision emphasized the distinction between voluntary and involuntary charges in determining deduction eligibility under the Act. Case-Laws Income Tax Thu, 24 Sep 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=20693