Case Law Details
Case Name : M/s. Runwal Constructions Runwal & Omkar Esquare Vs ACIT (ITAT Mumbai)
Related Assessment Year : 2012-13
Courts :
All ITAT ITAT Mumbai
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M/s. Runwal Constructions Runwal & Omkar Esquare Vs ACIT (ITAT Mumbai)
Unsold property which is held as stock in trade by the assessee can be assessed under the head ‘income from house property’ by notionally computing the annual letting value from such property and the Coordinate Bench considering the decision of the Hon’ble Delhi High Court in the case of Ansal Housing Finance & Leasing Co. Ltd. (supra) which the AO relied upon and the decision of the Hon’ble Supreme Court in the case of Chennai Properties & Investments Ltd. vs. CIT re
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