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2022 (1) TMI 689 - ITAT PUNEIncome from house property - assessability of notional income from the unsold flats held as ‘stock in trade’ in the case of the assessee whose business is construction and sale of residential properties - Addition u/s 22 r.w.s. 23(4) on account of deemed rent in respect of unsold units held as stock in trade by the appellant company - as argued the appellant company had held these unsold units as stock in trade and hence, as these units were occupied by the assessee for its business purpose, there was no reason to tax the annual value of such unsold units u/s 22 - HELD THAT:- No change in facts and law subsequent to the decision of Kumar Properties and Real Estate [2021 (4) TMI 1163 - ITAT PUNE] was brought to our notice. Hence, we have no reason to take a different view from the view taken by the Coordinate Bench of this Tribunal in the case of Kumar Properties and Real Estate (P.) Ltd. (supra). Therefore, we are of considered opinion that the Assessing Officer was not justified to assess the annual value of unsold flats for the year under consideration. Accordingly, we direct the Assessing Officer to delete the addition as made by him in the assessment order. Thus, the issue raised in the grounds of appeal stands allowed.
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