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2012 (8) TMI 765 - AT - Income TaxInterest on borrowings in respect of house let out – dis-allowance on ground of failure to furnish supporting evidence of same – Held that:- Interest payable on borrowings in respect of let out properties, the interest will be allowable only if the loan is taken for the acquisition of the house or for repaying a loan taken for acquisition of the property. Assessee has not produced any evidence to show that the loan has been taken for acquisition of property. Therefore, order of CIT(A) confirming dis-allowance is confirmed Various cash deposits in Bank – Held that:- Assessee had filed particulars of rent received and credited to the bank account. In the interest of justice, we remit this matter to the file of the AO for deciding the issue de-novo
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