Case Law Details
Case Name : Bani Broto Banerjee Vs CIT (ITAT Kolkata)
Appeal Number : I.T.A. No. 520/Kol/2023
Date of Judgement/Order : 18/11/2024
Related Assessment Year : 2014-15
Courts :
All ITAT ITAT Kolkata
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Bani Broto Banerjee Vs CIT (ITAT Kolkata)
ITAT Kolkata held that interest expenditure incurred on loans taken for acquiring property is allowable as deduction under section 48. However, from Assessment Year 2024-2025, due to amendment in provisions, such expenditure will not be allowed as deduction.
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