https://www.taxtmi.com/caselaws?id=294690 The Tribunal overturned the decision to tax notional rental income on unsold stock-in-trade as Business income for the assessment year 2015-16. It was held that rental income cannot be computed when flats are held as stock in trade. The Tribunal cited previous judgments and orders, directing the deletion of the addition based on similar views taken in other cases by Pune benches. The appeal was allowed, emphasizing that the Finance Act, 2017, which provided guidelines for such computation, did not apply to the assessment year in question. en-us Mon, 23 Dec 2019 00:00:00 +0530 Wed, 28 Apr 2021 11:51:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=294690 The Tribunal overturned the decision to tax notional rental income on unsold stock-in-trade as Business income for the assessment year 2015-16. It was held that rental income cannot be computed when flats are held as stock in trade. The Tribunal cited previous judgments and orders, directing the deletion of the addition based on similar views taken in other cases by Pune benches. The appeal was allowed, emphasizing that the Finance Act, 2017, which provided guidelines for such computation, did not apply to the assessment year in question. Case-Laws Income Tax Mon, 23 Dec 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=294690