https://www.taxtmi.com/caselaws?id=760972 ITAT Pune held that deemed rent cannot be calculated on unsold flats held as stock in trade prior to assessment year 2018-19. Following precedent in Jayant Avinash Dave case, the tribunal ruled that notional rental income cannot be computed on annual letting value of properties forming part of closing inventory. The tribunal directed the Assessing Officer to delete the addition made on account of deemed rent on property held as stock in trade, allowing the appellant's appeal. en-us Wed, 23 Oct 2024 00:00:00 +0530 Wed, 30 Oct 2024 08:32:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=760972 ITAT Pune held that deemed rent cannot be calculated on unsold flats held as stock in trade prior to assessment year 2018-19. Following precedent in Jayant Avinash Dave case, the tribunal ruled that notional rental income cannot be computed on annual letting value of properties forming part of closing inventory. The tribunal directed the Assessing Officer to delete the addition made on account of deemed rent on property held as stock in trade, allowing the appellant's appeal. Case-Laws Income Tax Wed, 23 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=760972