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Annual Lettable Value of vacant property held as stock-in-trade is computed at NIL
Case Law Details
- Case Name
- Sugam Realty Limited Vs DCIT (ITAT Kolkata)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Kolkata
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Sugam Realty Limited Vs DCIT (ITAT Kolkata)
ITAT Kolkata held that as per provisions of section 23(1)(c) the annual lettable value of the vacant property of unsold units/flats held as stock-in-trade by the assessee but remained vacant during the year is to be computed at Rs. NIL.
Facts- The assessee is a private limited company engaged in the business of construction of properties. AO noticed that the assessee company owns various units as stock-in-trade and rent received from some of such flats has been offered to tax under the head ‘income from house property’. AO noticed that there are ...
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