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Notional Rent on unsold flats taxable under ‘Income from House Property’ even prior to AY 2018-19: ITAT Mumbai
Case Law Details
- Case Name
- Ramesh Dungarshi Shah Vs DCIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2015-16
- Courts
- All ITAT, ITAT Mumbai
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Ramesh Dungarshi Shah Vs DCIT (ITAT Mumbai)
Assessee is an individual & engaged in the business of Civil Construction & Builders & Developers declaring total income from sale of flats amounting & other income. Assessee’s case was selected for limited scrutiny under CASS, for the reason that the assessee has not declared income from house property for unsold shops/flats which remained vacant during the year under consideration. AO made an addition on deemed rental income, after the standard deduction @ 30%, on the vacant flats which was shown in the bala...
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