Addition for Notional annual value of property/part of property held as stock-in-trade

Tata Housing Development Company Ltd vs PCIT (ITAT Mumbai)

sub-section (5) to Section 23 has been inserted by the Finance Act, 2017 w.e.f. 01-4-2018, whereby notional annual value of property/part of property held has stock-in-trade has been brought to tax subject to conditions specified in the newly inserted sub-section. The amendment is substantive in nature and hence, would be effective prospectivel

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