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Unsold Flats as Stock-in-Trade Not Taxable as House Property Income in AY 2009-10
Case Law Details
- Case Name
- ACIT Vs Haware Construction Pvt. Ltd. (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2009-10
- Courts
- All ITAT, ITAT Mumbai
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ACIT Vs Haware Construction Pvt. Ltd. (ITAT Mumbai)
Income Tax Appellate Tribunal (ITAT), Mumbai bench, has issued a consolidated order addressing appeals filed by the Revenue against Haware Construction Pvt. Ltd. concerning assessment years 2009-10 and 2011-12. The proceedings, arising from assessments under Sections 143(3) and 147 of the Income Tax Act, 1961, revolved around the validity of re-opening assessments, disallowances for alleged bogus purchases, the treatment of unsold flats held as stock-in-trade, and expenses related to exempt income.
Assessment Year 2009-10: Ke...
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