No Tax on Deemed Rent of Unsold Flats as Builder Treated Them as Business Stock: ITAT Pune

Khinvasara Chavan Vs ACIT (ITAT Pune) ITAT Deletes Notional Rent Addition Because Unsold Flats Were Held as Stock-in-Trade; ITAT Removes Addition on Unsold Flats Holding That Stock-in-Trade Cannot Generate Notional House Property Income; Deemed Rental Income Cannot Be Applied to Unsold Builder Inventory; ITAT Grants Relief on Unsold Flats Because Properties Were Not Let Out. The appeal before the Pune Bench of the Income Tax Appellate Tribunal (ITAT) concerned Assessment Year 2017-18 and arose from an order passed by the Commissioner of Income Tax (Appeals)/NFAC dated 18.08.2025. The assessee,...