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2019 (3) TMI 893 - AT - Income TaxBusiness income - adopting the sale price @ circle rate for the purpose of computing the assessee’s income - holding properties as stock-in-trade - HELD THAT:- Ld. CIT(A) has rightly held that there is a document evidencing the sale and there is nothing on record to prove that the assessee has received anything more than stated in the said document evidencing the sale, then the sale consideration shall be full value of consideration stated in the document sale and not any other value. Ld. CIT(A) further rightly held that the AO has erred in adopting the sale price @ circle rate for the purpose of computing the assessee’s income. Accordingly, the additions was deleted by the Ld. CIT(A) and AO was directed to allow the consequential relief. Income from house property - notional rental income u/s. 22 - vacancy allowance - Rental Value of house properties lying vacant or used by the assessee for his business - HELD THAT:- the case of Sh. Sachin R. Tendulkar vs. DCIT [2018 (8) TMI 847 - ITAT MUMBAI] is also applicable in the present case, wherein it was held that in case property has remained vacant for whole year the income assessable would be NIL u/s. 23(1)(c) of the Act. - reject the ground raised by the Revenue.
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