https://www.taxtmi.com/caselaws?id=363347 The Tribunal upheld the order of the Ld. CIT(A) and dismissed the Revenue's appeal regarding the computation of notional annual letting value on unsold shops held as stock in trade. It was held that income from such stock in trade should be assessed under the head 'income from business' and not under 'income from house property,' in line with previous decisions by the Hon'ble Gujarat High Court and other courts. The unsold shops, being stock in trade, were not subject to computation under the head 'income from house property,' leading to the deletion of the addition made by the Assessing Officer. en-us Wed, 27 Jun 2018 00:00:00 +0530 Wed, 11 Jul 2018 08:24:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=363347 The Tribunal upheld the order of the Ld. CIT(A) and dismissed the Revenue's appeal regarding the computation of notional annual letting value on unsold shops held as stock in trade. It was held that income from such stock in trade should be assessed under the head 'income from business' and not under 'income from house property,' in line with previous decisions by the Hon'ble Gujarat High Court and other courts. The unsold shops, being stock in trade, were not subject to computation under the head 'income from house property,' leading to the deletion of the addition made by the Assessing Officer. Case-Laws Income Tax Wed, 27 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=363347