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Shri Sudhakar S. Mody Versus ACIT 16 (1) , Mumbai

2016 (11) TMI 393 - ITAT MUMBAI

Claim 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 th .....

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ther, 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 .....

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hri B. R. Baskaran (AM) And Ramlal Negi (JM) Assessee by : Shri Nitesh Joshi Department by : Shri A.K. Kardam ORDER Per B. R. Baskaran (AM) The appeal filed by the assessee is directed against the order dated 29.11.2012 passed by the learned CIT(A)-5 .....

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heard the parties and perused the record. The assessee had purchased a flat from Marathon Realty Limited by availing loan from IDBI Bank. The assessee claimed deduction of interest to the extent of ₹ 1,50,000/- u/s. 24(b) of the Act. During the .....

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Officer disallowed claim of interest made u/s. 24(b) of the Act. The learned CIT(A) also confirmed the order of the Assessing Officer by holding that the assessee did not furnish completion certificate from the appropriate authority. 4. Learned AR su .....

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07. Learned AR submitted that the assessee brought these facts to the notice of the learned CIT(A), vide his letter dated 7.11.2012, wherein the assessee also attached a certificate issued by the Cooperative Housing Society. Learned AR submitted that .....

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appropriate authority and hence possession of the flat was not conclusively proved. 6. Having heard the rival submissions, we are of the view that there is merit in the submissions made by learned AR. A careful perusal of the second proviso to secti .....

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