47 results for “house property”+ Section 160(1)clear
Sorted by relevance
Key Topics
Showing 1–20 of 47 · Page 1 of 3
In the result, the appeal of assessee in ITA
Bench: Shri Laliet Kumar & Shri Madhusudan Sawdia
160 ITR 52 (SC) liability incurred the purpose of obtaining the loan would be revenue expenditure. The Tribunal, however, held that since the entire liability to pay the discount had been incurred in the accounting year in question, the assessee was entitled to deduct the entire amount of Rs. 3 lakhs in that accounting year. This conclusion was not justified