https://www.taxtmi.com/caselaws?id=290139 Under the Indian Income Tax Act, 1922, the charge was treated as attaching to the income of the previous year, so an assessment was not invalid merely because the income source had disappeared by the year of assessment; the assessment therefore remained sustainable. On house property income, interest due on a mortgage debt was held deductible even if not actually paid, because the statutory allowance did not require actual payment and the annual value was assessed on a net basis after recognising the mortgage liability. en-us Thu, 17 Feb 1927 00:00:00 +0530 Thu, 10 Sep 2020 16:10:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=290139 Under the Indian Income Tax Act, 1922, the charge was treated as attaching to the income of the previous year, so an assessment was not invalid merely because the income source had disappeared by the year of assessment; the assessment therefore remained sustainable. On house property income, interest due on a mortgage debt was held deductible even if not actually paid, because the statutory allowance did not require actual payment and the annual value was assessed on a net basis after recognising the mortgage liability. Case-Laws Indian Laws Thu, 17 Feb 1927 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=290139