Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (12) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (12) TMI 1875 - AT - Income TaxAddition as deemed rent on unsold flats shown as stock in trade - HELD THAT:- It is seen that similar issue came up for consideration before the Pune Bench of the Tribunal in M/s. Cosmopolis Construction [2018 (9) TMI 1621 - ITAT PUNE] has held that no rental income can be computed when flats are held as stock in trade. In reaching this conclusion, the Tribunal relied on certain other judgments and the orders. In the absence of any distinguishing fact, having been brought to my notice by the ld. DR and respectfully following the precedent, we overturn the impugned order on this score and direct to delete the addition. - Decided in favour of assessee.
|