https://www.taxtmi.com/caselaws?id=472217 Interest on borrowings used to acquire or construct a let-out property may be deducted under Section 24(b), subject to verification of loan terms and computation of the interest component attributable to the property. Interest expenditure connected with an inter-corporate deposit may be deducted under Section 57 only where verification establishes a direct nexus between the borrowings and the deposit. The prescribed verification and consequential computation govern the claimed interest deductions for both assessment years. en-us Thu, 28 Feb 2019 00:00:00 +0530 Mon, 05 Oct 2026 10:59:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472217 Interest on borrowings used to acquire or construct a let-out property may be deducted under Section 24(b), subject to verification of loan terms and computation of the interest component attributable to the property. Interest expenditure connected with an inter-corporate deposit may be deducted under Section 57 only where verification establishes a direct nexus between the borrowings and the deposit. The prescribed verification and consequential computation govern the claimed interest deductions for both assessment years. Case-Laws Income Tax Thu, 28 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472217