A.O. to consider the repayment of liabilities of the donor, made ...
Income Tax
May 27, 2016
A.O. to consider the repayment of liabilities of the donor, made by the assessee as that which is incurred to perfect his title of the property and thus it is cost of improvement and consequentially the borrowings made for the same is to be taken as that which is for incurring the cost of improvement of the property and consequentially the interest expenditure incurred should be allowable u/s 24(b) from House Property Income - AT
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