IT : Interest payable to sundry creditors, who supplied material for construction of property, is an allowable deduction under section 24(b)
■■■
[2015] 53 taxmann.com 168 (Delhi - Trib.)
IN THE ITAT DELHI BENCH 'D'
Jyoti Metal & Allied Industries (P.) Ltd.
v.
Income-tax Officer, Ward 4(2), New Delhi*
S.V. MEHROTRA, ACCOUNTANT MEMBER
AND A.T. VARKEY, JUDICIAL MEMBER
IT APPEAL NOS. 1824 & 3473 (DELHI) OF 2010
[ASSESSMENT YEARS 2005-06 & 2007-08]
OCTOBER 31, 2014
Section 24 of the Income-tax Act, 1961 - Income from house property - Deductions (Interest) - Assessment year 2005-06 - Whether interest payable to sundry creditors, who supplied material for construction of property, is an allowable deduction under section 24(b) - Held, yes [Paras 3 and 4] [Matter remanded]
Words and Phrases : 'Borrowed capital' as occurring in section 24(b) of the Income-tax Act, 1961
■■■
[2015] 53 taxmann.com 168 (Delhi - Trib.)
IN THE ITAT DELHI BENCH 'D'
Jyoti Metal & Allied Industries (P.) Ltd.
v.
Income-tax Officer, Ward 4(2), New Delhi*
S.V. MEHROTRA, ACCOUNTANT MEMBER
AND A.T. VARKEY, JUDICIAL MEMBER
IT APPEAL NOS. 1824 & 3473 (DELHI) OF 2010
[ASSESSMENT YEARS 2005-06 & 2007-08]
OCTOBER 31, 2014
Section 24 of the Income-tax Act, 1961 - Income from house property - Deductions (Interest) - Assessment year 2005-06 - Whether interest payable to sundry creditors, who supplied material for construction of property, is an allowable deduction under section 24(b) - Held, yes [Paras 3 and 4] [Matter remanded]
Words and Phrases : 'Borrowed capital' as occurring in section 24(b) of the Income-tax Act, 1961
No comments:
Post a Comment