https://www.taxtmi.com/caselaws?id=375960 Notional annual letting value of unsold units held as stock in trade by a builder could not be taxed as income from house property where no actual rent was received and no deeming provision brought such hypothetical income within the business head. The analysis applied section 23 but emphasised that a deeming fiction must be confined to its clear scope and cannot be extended beyond the statute. It further noted that the amount did not fall within the charging scope of section 5(1) because the assessee had only a hypothetical rental value, not actual income. The addition was therefore deleted. en-us Tue, 19 Feb 2019 00:00:00 +0530 Thu, 28 Feb 2019 16:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=375960 Notional annual letting value of unsold units held as stock in trade by a builder could not be taxed as income from house property where no actual rent was received and no deeming provision brought such hypothetical income within the business head. The analysis applied section 23 but emphasised that a deeming fiction must be confined to its clear scope and cannot be extended beyond the statute. It further noted that the amount did not fall within the charging scope of section 5(1) because the assessee had only a hypothetical rental value, not actual income. The addition was therefore deleted. Case-Laws Income Tax Tue, 19 Feb 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=375960