Thursday, June 25, 2020

Borrowed sum not utilized for construction of house to be excluded while computing deduction u/s 36(1)(viii)

INCOME TAX : Where borrower took plot loan but failed to construct on plot of land for residential house within 3 years, plot loan was to be classified as commercial loan and assessee-housing finance company had to forego deduction under section 36(1)(viii) in respect of such plot loans classified as commercial loans

from www.taxmann.com Latest Case Laws https://ift.tt/31biXqO
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