Interest paid on borrowed loan which was utilised for acquiring property is held to be allowable deduction . ( AY.2011-12)
ITO v. Altitus Management Advisors (P.) Ltd. (2018) 169 ITD 702 (Mum) ( Trib.)
S.24: Income from house property- Leasing -Interest paid on borrowed loan which was utilised for acquiring property is held to be allowable deduction [ S.24(b) ]