Building under construction cannot be taxed as deemed let out property

CIT Vs M/s. National Engineering Industries Ltd. (Calcutta High Court)

The Court:-This appeal was admitted on the following substantial questions of law:-

“(i) Whether on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal is correct in deleting the addition of Rs.67,97,355/- being rent receivable in respect of the portion of the property owned by the assessee, which was vacant during the year, on correct interpretat

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