https://www.taxtmi.com/caselaws?id=416210 Unsold flats held as stock-in-trade in the course of a construction business could not be subjected to notional rent under the head income from house property. The Tribunal applied the settled principle that where property is treated as trading stock, any income arising from it falls within the business sphere rather than house property taxation. Following coordinate bench decisions on identical facts, it held that annual letting value under section 23 could not be estimated for such unsold stock-in-trade flats, and the deemed rent addition was deleted. en-us Thu, 25 Nov 2021 00:00:00 +0530 Thu, 23 Dec 2021 12:10:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=416210 Unsold flats held as stock-in-trade in the course of a construction business could not be subjected to notional rent under the head income from house property. The Tribunal applied the settled principle that where property is treated as trading stock, any income arising from it falls within the business sphere rather than house property taxation. Following coordinate bench decisions on identical facts, it held that annual letting value under section 23 could not be estimated for such unsold stock-in-trade flats, and the deemed rent addition was deleted. Case-Laws Income Tax Thu, 25 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=416210