https://www.taxtmi.com/caselaws?id=21231 The court upheld the decision of the Appellate Assistant Commissioner to allow a deduction for interest payable to a bank under section 24(1)(vi) of the Income-tax Act, 1961. The court emphasized the need to establish a direct connection between borrowed capital and property investment to claim the deduction, irrespective of actual payment. The court found no statable question of law and rejected the application, clarifying the accrual basis for claiming deductions under section 24(1)(vi). en-us Mon, 13 Jul 1992 00:00:00 +0530 Sat, 21 Nov 2009 10:08:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=21231 The court upheld the decision of the Appellate Assistant Commissioner to allow a deduction for interest payable to a bank under section 24(1)(vi) of the Income-tax Act, 1961. The court emphasized the need to establish a direct connection between borrowed capital and property investment to claim the deduction, irrespective of actual payment. The court found no statable question of law and rejected the application, clarifying the accrual basis for claiming deductions under section 24(1)(vi). Case-Laws Income Tax Mon, 13 Jul 1992 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=21231