3 results for “house property”+ Section 56(2)(iii)clear
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In the result, both the appeals of the assessee for ay: 2015-16 and 2016-17
Bench: Shri.Vijay Pal Rao & Shri Ramit Kochar
iii) nor were such adjustments permissible under section 70 or 71 of the Act because the business of the assessee had not commenced. The Madras High Court categorically held: "... In this case, admittedly, the borrowing has not been made exclusively and solely for the purpose of earning interest in which case alone it should be taken as an income which