https://www.taxtmi.com/caselaws?id=425788 The Appellate Tribunal ITAT Pune dismissed the Assessee's appeal regarding the deduction of interest paid for acquiring possession of a property. The Tribunal upheld the decision of the lower authorities to disallow the claim under section 24(b) of the Income Tax Act for the Assessment Year 2014-15. The Tribunal found that the borrowed funds were not specifically utilized for the property in question, as per the loan agreement, and therefore, the Assessee was not eligible for the deduction of interest. en-us Thu, 28 Jul 2022 00:00:00 +0530 Mon, 01 Aug 2022 14:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=425788 The Appellate Tribunal ITAT Pune dismissed the Assessee's appeal regarding the deduction of interest paid for acquiring possession of a property. The Tribunal upheld the decision of the lower authorities to disallow the claim under section 24(b) of the Income Tax Act for the Assessment Year 2014-15. The Tribunal found that the borrowed funds were not specifically utilized for the property in question, as per the loan agreement, and therefore, the Assessee was not eligible for the deduction of interest. Case-Laws Income Tax Thu, 28 Jul 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=425788