https://www.taxtmi.com/caselaws?id=354069 Delhi HC held that unsold residential flats held as stock-in-trade by the assessee were taxable under Income from House Property provisions rather than business income. The court ruled that despite Section 23(1)(c) amendment effective April 2002, properties never actually let out cannot claim its benefit. The notional annual letting value method under Section 23(1)(a) applies to such properties. Section 23(5) inserted from April 2018 operates prospectively only, not covering the relevant assessment years. The amendment's language indicates legislative intent that this situation wasn't previously covered by existing provisions. Decision against assessee. en-us Fri, 03 Nov 2017 00:00:00 +0530 Thu, 15 May 2025 11:50:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=354069 Delhi HC held that unsold residential flats held as stock-in-trade by the assessee were taxable under Income from House Property provisions rather than business income. The court ruled that despite Section 23(1)(c) amendment effective April 2002, properties never actually let out cannot claim its benefit. The notional annual letting value method under Section 23(1)(a) applies to such properties. Section 23(5) inserted from April 2018 operates prospectively only, not covering the relevant assessment years. The amendment's language indicates legislative intent that this situation wasn't previously covered by existing provisions. Decision against assessee. Case-Laws Income Tax Fri, 03 Nov 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=354069