Gujarat HC allows Income Tax Deduction for Payment made to Clear Mortgage, dismisses Revenue’s Appeal u/s 263 [Read Order]

The ITAT found that the Assessing Officer had conducted appropriate inquiries and made a legally plausible decision
By Ashkar Tovarishch - On July 5, 2024 7:01 pm - 2 mins read
Income Tax - Gujarat High Court - Gujarat HC - Income Tax Deduction - Income Tax - TAXSCAN

The Gujarat High Court has upheld the decision of the Income Tax Appellate Tribunal ( ITAT ) to allow income tax deduction for payment made to clear a mortgage, dismissing the appeal filed by the Principal Commissioner of Income Tax ( PCIT ). The assessee, Rinki Shashikant Gandhi, declaring a total income of Rs. 25,000…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader