Income from Housing Finance for Non-Residential purposes not eligible for Deduction u/s 36(1)(viii) of Income Tax Act: ITAT [Read Order]

Income Housing Finance - Residential purposes - deduction us 36(1)(viii) - Income Tax Act - ITAT - TAXSCAN

The Two member bench of Income Tax Appellate Tribunal (ITAT) of Mumbai  ruled that Income From housing finance for non residential purposes not eligible for deduction under Section 36(1)(viii) of Income Tax Act, 1961. The Assessee Housing Development Finance Corporation Limited, is regulated by National Housing Bank, which is a wholly owned subsidiary of Reserve…

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