https://www.taxtmi.com/caselaws?id=391470 The ITAT partially allowed the appeal by the assessee, emphasizing the strict construction of the Income Tax Act and settled legal principles. The ITAT overturned the CIT(A)'s denial of the deduction claim under section 24 for income from house property, citing express provisions of the Act and a Bombay High Court decision. Regarding the disallowance of the accumulation of unutilized funds, the ITAT found the issue unresolved and directed the Assessing Officer to reconsider after providing the appellant with an opportunity to be heard, stressing the importance of clarity and justice in decision-making. en-us Mon, 25 Nov 2019 00:00:00 +0530 Wed, 29 Jan 2020 07:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=391470 The ITAT partially allowed the appeal by the assessee, emphasizing the strict construction of the Income Tax Act and settled legal principles. The ITAT overturned the CIT(A)'s denial of the deduction claim under section 24 for income from house property, citing express provisions of the Act and a Bombay High Court decision. Regarding the disallowance of the accumulation of unutilized funds, the ITAT found the issue unresolved and directed the Assessing Officer to reconsider after providing the appellant with an opportunity to be heard, stressing the importance of clarity and justice in decision-making. Case-Laws Income Tax Mon, 25 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=391470