https://www.taxtmi.com/caselaws?id=36746 The court upheld the assessee's claim for dual deductions of interest on mortgage under both 'Property' and 'Business' heads, confirmed the taxability of interest income debited to the debtor's account, disallowed the balance of municipal taxes under the business head, and ruled that interim dividends declared by the board should be considered for rebate withdrawal. The court emphasized the mutual exclusiveness of income heads and answered the issues accordingly, with no order as to costs. en-us Tue, 30 Oct 1979 00:00:00 +0530 Wed, 24 Mar 2010 12:25:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36746 The court upheld the assessee's claim for dual deductions of interest on mortgage under both 'Property' and 'Business' heads, confirmed the taxability of interest income debited to the debtor's account, disallowed the balance of municipal taxes under the business head, and ruled that interim dividends declared by the board should be considered for rebate withdrawal. The court emphasized the mutual exclusiveness of income heads and answered the issues accordingly, with no order as to costs. Case-Laws Income Tax Tue, 30 Oct 1979 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36746