https://www.taxtmi.com/caselaws?id=26712 The High Court ruled in favor of the assessee regarding the deduction of interest on unsecured debentures under section 24(1)(vi) for the assessment years 1968-69 and 1969-70. The Court affirmed the Tribunal's decision to allow the deduction based on the property being purchased with borrowed capital. Additionally, the Court upheld the deduction of Rs. 10,838 for municipal taxes for the assessment year 1968-69, as determined by a judgment from the Small Causes Court. The High Court's decision was unanimous, with no costs awarded in the matter. en-us Mon, 06 Jan 1986 00:00:00 +0530 Mon, 08 Feb 2010 10:19:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26712 The High Court ruled in favor of the assessee regarding the deduction of interest on unsecured debentures under section 24(1)(vi) for the assessment years 1968-69 and 1969-70. The Court affirmed the Tribunal's decision to allow the deduction based on the property being purchased with borrowed capital. Additionally, the Court upheld the deduction of Rs. 10,838 for municipal taxes for the assessment year 1968-69, as determined by a judgment from the Small Causes Court. The High Court's decision was unanimous, with no costs awarded in the matter. Case-Laws Income Tax Mon, 06 Jan 1986 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26712