https://www.taxtmi.com/caselaws?id=436286 The Tribunal held that the CIT(A) erred in confirming the AO's decision to levy deemed rent under section 23(4) of the Act. The Tribunal found that the appellant's unsold flats were treated as stock-in-trade and not let out, meeting the conditions for exclusion under section 22 of the Act. As a result, no addition on account of deemed rent was warranted. The appeal was allowed in favor of the appellant. en-us Tue, 14 Feb 2023 00:00:00 +0530 Sat, 08 Apr 2023 09:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=436286 The Tribunal held that the CIT(A) erred in confirming the AO's decision to levy deemed rent under section 23(4) of the Act. The Tribunal found that the appellant's unsold flats were treated as stock-in-trade and not let out, meeting the conditions for exclusion under section 22 of the Act. As a result, no addition on account of deemed rent was warranted. The appeal was allowed in favor of the appellant. Case-Laws Income Tax Tue, 14 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=436286