https://www.taxtmi.com/caselaws?id=297809 The ITAT Mumbai partially allowed the appeal by the real estate developer, setting aside the taxability of unsold units as "Income from house property" and the disallowance of interest expenditure on a notional basis. The judgment considered legal provisions, case laws, and factual circumstances, allowing the appeal on both issues for statistical purposes. The appellant successfully argued against the ALV addition based on the amendment to section 23 and provided additional evidence for the interest expenditure disallowance, leading to a fresh decision by the AO. en-us Wed, 31 Oct 2018 00:00:00 +0530 Thu, 23 Sep 2021 07:04:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297809 The ITAT Mumbai partially allowed the appeal by the real estate developer, setting aside the taxability of unsold units as "Income from house property" and the disallowance of interest expenditure on a notional basis. The judgment considered legal provisions, case laws, and factual circumstances, allowing the appeal on both issues for statistical purposes. The appellant successfully argued against the ALV addition based on the amendment to section 23 and provided additional evidence for the interest expenditure disallowance, leading to a fresh decision by the AO. Case-Laws Income Tax Wed, 31 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297809