AO Calculates Deemed Income for Vacant Property Using 7% ALV, Allows Full Deduction on Interest Paid by Assessee.

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....Income from house property - one is self occupied property and second is vacant property - AO has applied ALV at 7% of book value of the property and computed deemed house property income of ₹ 1,40,185/- assessee has paid interest of ₹ 3,50,641/- as interest towards vacant property - entire interest payment allowed as deduction - AT....