Notional Rent on unsold flats taxable under ‘Income from House Property’ even prior to AY 2018-19: ITAT Mumbai

Ramesh Dungarshi Shah Vs DCIT (ITAT Mumbai) Assessee is an individual & engaged in the business of Civil Construction & Builders & Developers declaring total income from sale of flats amounting & other income.  Assessee’s case was selected for limited scrutiny under CASS, for the reason that the assessee has not declared income from house property for unsold shops/flats which remained vacant during the year under consideration.  AO made an addition on deemed rental income, after the standard deduction @ 30%, on the vacant flats which was shown in the balance sheet & P...