https://www.taxtmi.com/caselaws?id=283864 The Tribunal allowed the assessee's appeals, holding that income from unsold flats held as stock in trade should not be taxed under the head of income from house property. The decision was based on the distinction between properties owned for business purposes and those held as stock in trade, favoring a construction benefiting the taxpayer in cases of ambiguity in taxing provisions. The Tribunal referenced precedents and statutory provisions to support its conclusion, setting aside the CIT(A)'s order and ruling in favor of the assessee for both assessment years. en-us Tue, 19 Mar 2019 00:00:00 +0530 Thu, 17 Oct 2019 20:52:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=283864 The Tribunal allowed the assessee's appeals, holding that income from unsold flats held as stock in trade should not be taxed under the head of income from house property. The decision was based on the distinction between properties owned for business purposes and those held as stock in trade, favoring a construction benefiting the taxpayer in cases of ambiguity in taxing provisions. The Tribunal referenced precedents and statutory provisions to support its conclusion, setting aside the CIT(A)'s order and ruling in favor of the assessee for both assessment years. Case-Laws Income Tax Tue, 19 Mar 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=283864