Addition on the account of Section 24 v/s business head u/s 37 - ...

Interest on Business Loans Deductible Under Business Head, Not House Property, Confirms ITAT Ruling.

February 29, 2024

Case Laws Income Tax AT

Addition on the account of Section 24 v/s business head u/s 37 - interest paid on housing loan - The ITAT upheld the CIT(A)'s decision, stating that if the interest is paid on capital borrowed for the purpose of business, it should be allowed as a deduction under the business head, and not under income from house property.

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Addition on the account of Section 24 v/s business head u/s 37 - ...

Interest on Business Loans Deductible Under Business Head, Not House Property, Confirms ITAT Ruling.

February 29, 2024

Case Laws Income Tax AT

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