ITAT Mumbai Allows Deduction for Interest Expenditure against rental income

Sujeev Sanjeev Kharwadkar Vs ACIT (ITAT Mumbai)

Introduction: Sujeev Sanjeev Kharwadkar contested a decision by the CIT(A) challenging the order regarding the deduction of interest payable on housing loans. This appeal, dated 23.5.2023, pertains to the assessment year 2013-14.

Detailed Analysis: The assessee, a full-time employee of Jet Airways India Limited, initially filed a belated return of income beyond the prescribed due date. Subsequently, a revised

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