https://www.taxtmi.com/caselaws?id=448343 ITAT Mumbai held that deemed rental income from unsold flats held as stock-in-trade cannot be taxed for assessment years up to 2017-18, following coordinate bench precedents. The CIT(A) correctly deleted the AO's addition of estimated annual letting value at 8.5%. However, regarding section 43CA addition for difference between sale consideration and stamp duty valuation, the tribunal allowed assessee's cross-objection, deleting the addition as the 1.67% difference fell within the 10% threshold limit under retrospectively applicable provisions inserted by Finance Act 2020. en-us Fri, 10 Nov 2023 00:00:00 +0530 Tue, 20 May 2025 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448343 ITAT Mumbai held that deemed rental income from unsold flats held as stock-in-trade cannot be taxed for assessment years up to 2017-18, following coordinate bench precedents. The CIT(A) correctly deleted the AO's addition of estimated annual letting value at 8.5%. However, regarding section 43CA addition for difference between sale consideration and stamp duty valuation, the tribunal allowed assessee's cross-objection, deleting the addition as the 1.67% difference fell within the 10% threshold limit under retrospectively applicable provisions inserted by Finance Act 2020. Case-Laws Income Tax Fri, 10 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448343