https://www.taxtmi.com/caselaws?id=417224 The Tribunal allowed all three appeals of the assessee, directing the deletion of the addition of deemed rent on unsold flats held as stock in trade for both AY 2014-15 and AY 2015-16. The decision clarified the assessability of notional income from unsold properties held as stock in trade by businesses engaged in construction and sale of residential properties, based on relevant provisions of the Income Tax Act, judicial precedents, and legislative amendments. en-us Thu, 13 Jan 2022 00:00:00 +0530 Tue, 18 Jan 2022 08:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417224 The Tribunal allowed all three appeals of the assessee, directing the deletion of the addition of deemed rent on unsold flats held as stock in trade for both AY 2014-15 and AY 2015-16. The decision clarified the assessability of notional income from unsold properties held as stock in trade by businesses engaged in construction and sale of residential properties, based on relevant provisions of the Income Tax Act, judicial precedents, and legislative amendments. Case-Laws Income Tax Thu, 13 Jan 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417224