Case Law Details
Case Name : M/s. Shah Construction Co. Vs ITO (ITAT Mumbai)
Appeal Number : ITA No. 565/M/2015
Date of Judgement/Order : 24/08/2018
Related Assessment Year : 2011-12
Courts :
All ITAT ITAT Mumbai
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M/s. Shah Construction Co. Vs ITO (ITAT Mumbai)
Conclusion –
Deduction of interest u/s 24B allowable when loan borrowed to repay previous loan taken for the construction of residential unit.
Facts –
Assessee has constructed a building namely Sumer Heights comprising two blocks A & B. Block-A comprised of residential units and Block-B was a commercial building.
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