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Deduction u/s 48.

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(Querist)
28 December 2008 Can the expenditure incurred by an assessee to remove an encumbrance be allowed as a deduction u/s 48, in the following cases:-

„« where the mortgage was created by the assessee himself;
„« where the mortgage was created by the previous owner.
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
28 December 2008 In the second situation deduction u/s 48 will be allowed.
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C A GROUP COACHING

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C A GROUP COACHING (Expert)
28 December 2008 ENCUMBRANCE / MORTGAGE CRETAED BY OTHER PARTY CAN BE CLAIMED
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