https://www.taxtmi.com/caselaws?id=472340 Unsold flats held by a builder as stock-in-trade retain their character as business stock. Where no jurisdictional High Court view governs conflicting interpretations of sections 22 and 23 of the Income-tax Act, the interpretation favourable to the assessee applies. Under that approach, income attributable to such flats is treated as business income rather than income from house property. Consequently, no notional annual letting value of unsold stock-in-trade flats is assessable under the head income from house property, and the related addition is deleted. en-us Mon, 05 Nov 2018 00:00:00 +0530 Thu, 08 Oct 2026 11:59:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=472340 Unsold flats held by a builder as stock-in-trade retain their character as business stock. Where no jurisdictional High Court view governs conflicting interpretations of sections 22 and 23 of the Income-tax Act, the interpretation favourable to the assessee applies. Under that approach, income attributable to such flats is treated as business income rather than income from house property. Consequently, no notional annual letting value of unsold stock-in-trade flats is assessable under the head income from house property, and the related addition is deleted. Case-Laws Income Tax Mon, 05 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=472340