https://www.taxtmi.com/caselaws?id=27415 The court ruled in favor of the assessee, allowing the deduction of interest payments on mortgages for two properties under section 24(1)(iv) of the Income-tax Act. The court emphasized that the charges should be annual, not voluntarily created by the assessee, and not capital charges. The mortgages, created under creditor pressure, were considered involuntary charges, meeting the requirements for deduction. The court clarified the meaning of "voluntarily" in the context of the clause and referenced earlier judgments supporting deductions for charges not voluntarily created. en-us Wed, 18 Jul 1984 00:00:00 +0530 Fri, 12 Feb 2010 16:29:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27415 The court ruled in favor of the assessee, allowing the deduction of interest payments on mortgages for two properties under section 24(1)(iv) of the Income-tax Act. The court emphasized that the charges should be annual, not voluntarily created by the assessee, and not capital charges. The mortgages, created under creditor pressure, were considered involuntary charges, meeting the requirements for deduction. The court clarified the meaning of "voluntarily" in the context of the clause and referenced earlier judgments supporting deductions for charges not voluntarily created. Case-Laws Income Tax Wed, 18 Jul 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27415