https://www.taxtmi.com/caselaws?id=766532 Unsold flats held as stock-in-trade could not be brought to tax on a notional annual value basis for a year prior to the insertion of section 23(5) of the Income-tax Act, 1961. The property was held as trading stock, not as an investment asset, and the specific charging provision taxing such stock-in-trade properties was introduced only from 1 April 2018. In the absence of an applicable charging provision for the assessment year in question, the notional house property addition was unsustainable and was deleted. en-us Tue, 25 Feb 2025 00:00:00 +0530 Thu, 27 Feb 2025 08:14:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766532 Unsold flats held as stock-in-trade could not be brought to tax on a notional annual value basis for a year prior to the insertion of section 23(5) of the Income-tax Act, 1961. The property was held as trading stock, not as an investment asset, and the specific charging provision taxing such stock-in-trade properties was introduced only from 1 April 2018. In the absence of an applicable charging provision for the assessment year in question, the notional house property addition was unsustainable and was deleted. Case-Laws Income Tax Tue, 25 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766532