Expenses incurred by towards interest and processing charges paid on loan borrowed for buying said let out property is allowable as deduction. (AY. 2015-16)
ACIT v. Tupelo Builders (P.) Ltd. (2023) 199 ITD 58 / 221 TTJ 192 (Delhi)(Trib)
S. 37(1) : Business expenditure-Interest and processing charges-Letting of properties assessed as business income-Allowable as deduction. [S. 28(i)]