This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
No addition of Notional annual rental value on unsold flats held as stock-in-trade
Case Law Details
- Case Name
- Cosmopolis Constructions Vs ACIT (ITAT Pune)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Cosmopolis Constructions Vs ACIT (ITAT Pune)
ITAT held that no addition is maintainable on account of deemed rent on unsold flats which were treated as stock-in-trade by the assessee.
FULL TEXT OF THE ORDER OF ITAT PUNE
This appeal by the assessee against the order dated 04-02-2022 passed by the Commissioner of Income Tax (Appeals)-11, Pune [‘CIT(A)’] for assessment year 2015-16.
2. The assessee raised two grounds of appeal amongst which the only issue emanates for our consideration is as to whether the CIT(A) justified in confirming the addition made by the AO on account of deemed rent fr...
