https://www.taxtmi.com/caselaws?id=414532 Interest on unpaid purchase consideration for acquiring property was treated as interest on borrowed capital and considered allowable as a housing-property deduction. The settled position on exempt-income expenses was applied to confine the section 14A disallowance to the amount of exempt income, and the note records that such a notional disallowance was not to be added back while computing book profit under section 115JB. The Revenue's appeals are noted as having failed on all issues. en-us Mon, 25 Oct 2021 00:00:00 +0530 Tue, 09 Nov 2021 12:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=414532 Interest on unpaid purchase consideration for acquiring property was treated as interest on borrowed capital and considered allowable as a housing-property deduction. The settled position on exempt-income expenses was applied to confine the section 14A disallowance to the amount of exempt income, and the note records that such a notional disallowance was not to be added back while computing book profit under section 115JB. The Revenue's appeals are noted as having failed on all issues. Case-Laws Income Tax Mon, 25 Oct 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=414532