Interest on Unused Commercial Property Not Business Expense, but Allowable u/s 24(b): Jaipur ITAT

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...