Rent from unsold flats to builder taxable as House Property income

Atul Jaiprakash Goel Vs DCIT (ITAT Pune) The assessee is a builder who had certain unsold flats/units in his possession. Such flats were let out and the income was earned therefrom. The short question before us is as to whether such income would constitute ‘Income from house property’ or would partake of the character of Business income. In this regard, we find that the Hon’ble Bombay High Court in CIT Vs. Sane and Doshi Enterprises (2015) 58 taxmann.com 111 (Bom.) has dealt with a similar issue and held that the rental income received from unsold portion of the property constructed by t...