Rental income - Deduction for interest on borrowed funds u/s ...

Income Tax

January 17, 2022

Rental income - Deduction for interest on borrowed funds u/s 24(b) - the assessee may have purchased the property out of borrowed funds, but the onus is upon the assessee to demonstrate that the said borrowed funds have been fully utilized for purchase of the said property and further demonstrate that the payment of interest is in respect of the said borrowed funds. No documentary evidences were furnished before the lower authorities nor before us. - AT

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Rental income - Deduction for interest on borrowed funds u/s ...

Income Tax

January 17, 2022

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