https://www.taxtmi.com/caselaws?id=409198 The Tribunal held that the CIT(A) was not justified in confirming the disallowance of Rs. 21,70,233/- on the annual letting value of unsold flats as income from house property. Relying on precedents, the Tribunal ruled that such unsold flats, being part of stock-in-trade, should be assessed as business income. The addition by the AO was deleted, and the appeal was decided in favor of the assessee. en-us Tue, 22 Jun 2021 00:00:00 +0530 Thu, 01 Jul 2021 08:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409198 The Tribunal held that the CIT(A) was not justified in confirming the disallowance of Rs. 21,70,233/- on the annual letting value of unsold flats as income from house property. Relying on precedents, the Tribunal ruled that such unsold flats, being part of stock-in-trade, should be assessed as business income. The addition by the AO was deleted, and the appeal was decided in favor of the assessee. Case-Laws Income Tax Tue, 22 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409198