https://www.taxtmi.com/caselaws?id=442804 The Tribunal dismissed the assessee's appeal, affirming the assessment of notional rent on unsold stock-in-trade under "Income from house property." The AO was directed to recompute the notional rent based on Municipal rentable value instead of the 8.5% estimation. The amendment to section 23(5) was deemed prospective and not applicable to the assessment year. en-us Mon, 28 Aug 2023 00:00:00 +0530 Mon, 11 Sep 2023 09:00:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442804 The Tribunal dismissed the assessee's appeal, affirming the assessment of notional rent on unsold stock-in-trade under "Income from house property." The AO was directed to recompute the notional rent based on Municipal rentable value instead of the 8.5% estimation. The amendment to section 23(5) was deemed prospective and not applicable to the assessment year. Case-Laws Income Tax Mon, 28 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442804