Interest from loan against mortgage of properties cannot be treated as rental income

Sunil Kumar Ahuja Vs ACIT (ITAT Hyderabad) ITAT Hyderabad held that interest income received towards loan extended against mortgage of properties cannot partake the character of rental income. Facts- The assessee is an individual and derives income from investment in real estate and share marketing. He had filed his original return of income on 31.12.2009 admitting total income of Rs.83,95,860/- and agricultural income of Rs.9,28,856/-. A search and seizure operation u/s 132 of the I.T. Act was conducted at the residential and business premises of the assessee on 17.09.2008. Notice u/s 153A of...