https://www.taxtmi.com/caselaws?id=465929 Deemed rent on unsold flats treated as finished stock was contested; the article notes that where unsold flats are shown as stock-in-trade, annual letting value cannot be imposed, following precedent that exempts finished inventory from deemed rent assessment. The revenue failed to place contrary authority, and the conclusion supports annulment of deemed rental inclusion in income for such unsold units. The operative legal point is that characterization of units as stock-in-trade precludes imposition of annual letting value as deemed rent on those unsold flats. en-us Tue, 23 Jan 2024 00:00:00 +0530 Thu, 15 Jan 2026 18:59:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465929 Deemed rent on unsold flats treated as finished stock was contested; the article notes that where unsold flats are shown as stock-in-trade, annual letting value cannot be imposed, following precedent that exempts finished inventory from deemed rent assessment. The revenue failed to place contrary authority, and the conclusion supports annulment of deemed rental inclusion in income for such unsold units. The operative legal point is that characterization of units as stock-in-trade precludes imposition of annual letting value as deemed rent on those unsold flats. Case-Laws Income Tax Tue, 23 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465929