https://www.taxtmi.com/caselaws?id=407971 The Tribunal ruled in favor of the assessee, holding that the unsold shops should be treated as stock-in-trade due to the primary business being estate development. The Tribunal referenced relevant case law to support its decision and emphasized that the applicable amendment to the Income Tax Act did not pertain to the assessment year in question. Consequently, the addition of deemed rental income was deemed unjustified, and the AO was directed to delete the addition. The appeal was allowed, and the order was pronounced on 13/10/2020. en-us Tue, 13 Oct 2020 00:00:00 +0530 Fri, 28 May 2021 08:38:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=407971 The Tribunal ruled in favor of the assessee, holding that the unsold shops should be treated as stock-in-trade due to the primary business being estate development. The Tribunal referenced relevant case law to support its decision and emphasized that the applicable amendment to the Income Tax Act did not pertain to the assessment year in question. Consequently, the addition of deemed rental income was deemed unjustified, and the AO was directed to delete the addition. The appeal was allowed, and the order was pronounced on 13/10/2020. Case-Laws Income Tax Tue, 13 Oct 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=407971