Section 24 interest for construction of commercial property – No Section 24 deduction if no evidence to prove that was ready to let out

Netra Software Technologies P Ltd. Vs ACIT (CPC) (ITAT Bangalore)

In the present case, the assessee has not enclosed any evidence along with the return suggesting completion of construction of commercial building and its readiness to let out, as such the ACIT(CPC) denied the interest claimed by the assessee by way of intimation sent to the assessee. The assessee thereafter sought to rectify the same vide proceedings u/s. 154 of the Act which is not permissible. Had there been any evidence furnished along with the return of

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