https://www.taxtmi.com/caselaws?id=797555 Deemed rental value of unsold flats held as stock-in-trade was not assessable for Assessment Year 2017-18. Section 23(5), which expressly provides for taxation of deemed rental income from unsold stock-in-trade, took effect from Assessment Year 2018-19 and did not apply retrospectively. Where High Court views conflicted, the interpretation favourable to the assessee applied. Accordingly, the notional rental-income addition for unsold flats retained as stock-in-trade for Assessment Year 2017-18 was deleted. en-us Fri, 21 Aug 2026 00:00:00 +0530 Mon, 24 Aug 2026 08:33:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=797555 Deemed rental value of unsold flats held as stock-in-trade was not assessable for Assessment Year 2017-18. Section 23(5), which expressly provides for taxation of deemed rental income from unsold stock-in-trade, took effect from Assessment Year 2018-19 and did not apply retrospectively. Where High Court views conflicted, the interpretation favourable to the assessee applied. Accordingly, the notional rental-income addition for unsold flats retained as stock-in-trade for Assessment Year 2017-18 was deleted. Case-Laws Income Tax Fri, 21 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=797555