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Bungalow Interest Deduction Denied: Not Ready for Occupation or Chosen by Assessee, Fails Borrowed Funds Requirement.

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....Income from house property - The assessee has to prove that this bungalow was purchased with borrowed funds. But neither the bungalow was ready for self-occupation nor the assessee has given a choice. Thus, under this head also the assessee is not entitled for deduction of an interest expenditure. - AT....

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Bungalow Interest Deduction Denied: Not Ready for Occupation or Chosen by Assessee, Fails Borrowed Funds Requirement.