Deemed rental income from unsold stock of Flats is taxable as house property income 

Malpani Estates Vs ACIT (ITAT Pune) It is seen that the assessment year under consideration is 2017-18. The Finance Act, 2017introduced sub-section (5) to section 23 providing that where a property held as stock in trade is not let out during the year, its annual value, after a period of one year or as revised to two years, shall be considered for the purposes of inclusion under the head `Income from House property‟. This amendment has been brought out w.e.f. 01-04-2018. Thus, this provision manifestly does not apply to the assessment year under consideration. Prior to the amendment, the Tri...