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Interest on Unused Commercial Property Not Business Expense, but Allowable u/s 24(b): Jaipur ITAT
Case Law Details
- Case Name
- Rup Kumar Ramchandani Vs ITO (ITAT Jaipur)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Jaipur
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Rup Kumar Ramchandani Vs ITO (ITAT Jaipur)
Interest on Unused Commercial Property Not Business Expense, but Allowable u/s 24(b): Jaipur ITAT Grants Alternative Relief
The Jaipur Bench (SMC) of the ITAT partly allowed the appeal for statistical purposes in the case of Rup Kumar Ramchandani vs. ITO, Ward-1(2), Ajmer, ITA No. 1258/JPR/2025, AY 2019-20, vide order dated 18.12.2025.
The Assessee had claimed interest expenditure of ₹11.82 lakh, out of which ₹6.71 lakh was disallowed by the AO u/s 36(1)(iii) on the ground that the borrowed funds were used to acquire a commercial property at Mir...
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