No addition of Notional annual rental value on unsold flats held as stock-in-trade

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.

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