https://www.taxtmi.com/caselaws?id=302014 Interest on a subsequent loan taken to repay an earlier housing loan may qualify for deduction under section 24B where the later borrowing is in substance a refinancing of the original housing loan used to acquire or construct the property. The deduction is available only to the extent the assessee proves that the fresh borrowing was applied to discharge the earlier housing loan and only for the principal amount connected with acquisition or construction, not for unpaid interest or unrelated sums. The authorities must examine the claim on that legal basis and verify the factual link between the loans. en-us Thu, 31 Aug 2017 00:00:00 +0530 Sat, 30 Apr 2022 20:32:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302014 Interest on a subsequent loan taken to repay an earlier housing loan may qualify for deduction under section 24B where the later borrowing is in substance a refinancing of the original housing loan used to acquire or construct the property. The deduction is available only to the extent the assessee proves that the fresh borrowing was applied to discharge the earlier housing loan and only for the principal amount connected with acquisition or construction, not for unpaid interest or unrelated sums. The authorities must examine the claim on that legal basis and verify the factual link between the loans. Case-Laws Income Tax Thu, 31 Aug 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302014