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2016 (11) TMI 393 - AT - Income TaxClaim of interest made u/s. 24(b) disallowed - completion certificate indicating completion of the flat - Held that:- A careful perusal of the second proviso to section 24 would show that the assessee should acquire or complete construction within three years from the end of financial year in which the capital was borrowed. In the instant case, the assessee has furnished certificate from the Cooperative Society to show that the possession of the flat was taken in October 2006 and March 2007. Further, the proviso nowhere states that the assessee should furnish completion certificate from the appropriate (Government) authorities. In our view, the evidences furnished by the assessee sufficiently prove that the assessee has taken possession of the flat during the relevant financial year under consideration. Accordingly we are of the view that the assessee is entitled to claim deduction u/s 24(b) of the Act. - Decided in favour of assessee
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