https://www.taxtmi.com/caselaws?id=458477 For assessment years before section 23(5) of the Income-tax Act, 1961 took effect, unsold units held by a builder as stock in trade could not be subjected to annual letting value taxation in the absence of an express deeming or charging provision. The Finance Act, 2017 amendment applied only from 01.04.2018, so it did not govern assessment year 2017-18. The addition made on this basis therefore lacked legal support and was deleted. en-us Fri, 09 Dec 2022 00:00:00 +0530 Tue, 29 Oct 2024 19:15:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458477 For assessment years before section 23(5) of the Income-tax Act, 1961 took effect, unsold units held by a builder as stock in trade could not be subjected to annual letting value taxation in the absence of an express deeming or charging provision. The Finance Act, 2017 amendment applied only from 01.04.2018, so it did not govern assessment year 2017-18. The addition made on this basis therefore lacked legal support and was deleted. Case-Laws Income Tax Fri, 09 Dec 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458477