Section 24b of IT act

The following judgement will be helpful....

1. Deduction of interest on borrowed capital – Assessee to prove nexus with acquisition / construction / reconstruction / repair / renewal of property.

CIT Vs Four Fields (P) Ltd. (P&H) 231 ITR 262 K. Sunandamma Vs CIT (Kar) 164 ITR 446

CIT Vs Indramani Devi Singhania (All) 189 ITR 124

2.  SC holds requirement of registration of sale deed in context of section 22 not warranted; 'Owner' means person who is entitled to receive income from property in his own right

Podar Cement (P.) Ltd.  [TS-17-SC-1997]

As per My View NO...

For claiming deduction under this section, assessee must be the owner or deemed owner of the house property and loan shall be in the assessee name...

Originally posted by : Dhirajlal Rambhia
	The following judgement will be helpful.... 1. Deduction of interest on borrowed capital – Assessee to prove nexus with acquisition / construction / reconstruction / repair / renewal of property. CIT Vs Four Fields (P) Ltd. (P&H) 231 ITR 262 K. Sunandamma Vs CIT (Kar) 164 ITR 446 CIT Vs Indramani Devi Singhania (All) 189 ITR 124 2.  SC holds requirement of registration of sale deed in context of section 22 not warranted; 'Owner' means person who is entitled to receive income from property in his own right Podar Cement (P.) Ltd.  [TS-17-SC-1997]

My Dear Sir...

Thank You for the Details. It's very Helpful...

Thanks for the appreciation........

Actually these are related case laws, but otherwise, what you said is correct......

"As per My View NO...

For claiming deduction under this section, assessee must be the owner or deemed owner of the house property and loan shall be in the assessee name... "

BUT.....Here the question arises: Who is the real owner of the property, when husband invested own amount self/& loan in construction/ purchase of the house; and just for convenience registered in wife's name?

Courts have decided in favour of husband.....

Thank You Sir...

I'll read the Case Law and improve my knowledge...

Thanks Once Again Sir....

Most Welcome, Dear...........