https://www.taxtmi.com/caselaws?id=369534 The Tribunal ruled in favor of the assessee, a Real Estate Developer, in an appeal against the addition of notional income from unsold units held as stock-in-trade for the Assessment Year 2012-13. The Tribunal held that income from such properties should be treated as Business Income, not Income from House Property, based on relevant precedents. Citing the decision in CIT vs. Vegetable Products, the Tribunal deleted the additions made by the Assessing Officer, allowing the appeal and overturning the initial decision. en-us Wed, 10 Oct 2018 00:00:00 +0530 Mon, 29 Oct 2018 17:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=369534 The Tribunal ruled in favor of the assessee, a Real Estate Developer, in an appeal against the addition of notional income from unsold units held as stock-in-trade for the Assessment Year 2012-13. The Tribunal held that income from such properties should be treated as Business Income, not Income from House Property, based on relevant precedents. Citing the decision in CIT vs. Vegetable Products, the Tribunal deleted the additions made by the Assessing Officer, allowing the appeal and overturning the initial decision. Case-Laws Income Tax Wed, 10 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=369534