https://www.taxtmi.com/caselaws?id=470237 Unsold flats held by a developer as stock-in-trade are treated as business inventory, so no deemed annual letting value or notional rental income is assessed under income from house property. Municipal regularisation charges for permissible construction deviations, where not penal in nature, are treated as deductible business expenditure. For expenditure relating to exempt dividend income, disallowance computed under Rule 8D(2)(iii) may be replaced with reasonable lump-sum disallowance where substantially similar prior-year facts support consistent treatment. The balance of the Rule 8D disallowance is deleted. en-us Tue, 20 Aug 2019 00:00:00 +0530 Tue, 21 Jul 2026 11:38:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=470237 Unsold flats held by a developer as stock-in-trade are treated as business inventory, so no deemed annual letting value or notional rental income is assessed under income from house property. Municipal regularisation charges for permissible construction deviations, where not penal in nature, are treated as deductible business expenditure. For expenditure relating to exempt dividend income, disallowance computed under Rule 8D(2)(iii) may be replaced with reasonable lump-sum disallowance where substantially similar prior-year facts support consistent treatment. The balance of the Rule 8D disallowance is deleted. Case-Laws Income Tax Tue, 20 Aug 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=470237