No Notional Rent on Stock-in-Trade of Unsold Commercial Units: ITAT Delhi

ACIT Vs Akarshan Estate Pvt. Ltd. (ITAT Delhi) The Revenue filed an appeal before the Income Tax Appellate Tribunal (ITAT), Delhi Bench, against the order of the Commissioner of Income Tax (Appeals)/National Faceless Appeal Centre dated 04.07.2025 for Assessment Year 2018-19. The dispute arose from the assessment order passed under Sections 143(3) read with 144B of the Income-tax Act, 1961. The assessee, a real estate developer, had developed a commercial project known as “M2K Corporate Park” located in Sector-51, Gurgaon. For Assessment Year 2018-19, it filed its return declaring ...