INCOME TAX : As per plain literal interpretation of section 24(b) there is no bar on an assessee to claim deduction of interest payable on a loan taken for purchasing a residential property, though, possession of same might not have been vested with him
from www.taxmann.com Latest Case Laws https://www.taxmann.com/research/direct-tax-laws/top-story/101010000000316796/sec-24b-doesn’t-mandate-acquiring-possession-of-property-to-claim-interest-deduction-itat.aspx
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