https://www.taxtmi.com/caselaws?id=471593 Notional annual letting value of completed but unsold flats held by a builder as stock-in-trade was not taxable as income from house property for Assessment Year 2017-18. Section 23(5), effective from 1 April 2018, subsequently created a specific framework for determining annual value of stock-in-trade and allowed a temporary nil valuation period. Before that effective date, no specific charging provision authorised taxation of notional annual letting value for such unsold inventory. Charging provisions require strict construction and cannot be extended without clear statutory authority. en-us Thu, 09 Jul 2026 00:00:00 +0530 Wed, 09 Sep 2026 19:00:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=471593 Notional annual letting value of completed but unsold flats held by a builder as stock-in-trade was not taxable as income from house property for Assessment Year 2017-18. Section 23(5), effective from 1 April 2018, subsequently created a specific framework for determining annual value of stock-in-trade and allowed a temporary nil valuation period. Before that effective date, no specific charging provision authorised taxation of notional annual letting value for such unsold inventory. Charging provisions require strict construction and cannot be extended without clear statutory authority. Case-Laws Income Tax Thu, 09 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=471593