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2020 (8) TMI 436 - AT - Income TaxAddition u/s 23(4) - Income from House Property - Property are stock in trade of the appellant firm - deemed rental income of the two unsold flats - HELD THAT:- It is an undisputed fact that assessee firm is in construction business and the two flats which are unsold were lying as its stock and were vacant and no rental income has been derived by the assessee firm. We find that identical issue arose in the case of Gajendra Pawar [2019 (2) TMI 1867 - ITAT PUNE]wherein the Co-ordinate Bench of the Tribunal decided the issue in favour of the assessee - no addition on account of deemed rent of two unsold flats can be made in the hands of assessee. Disallowance u/s 40A(3) - exception for incurring cash expenditure of ₹ 20,000/- as given in Rule 6DD - HELD THAT:- It is an undisputed fact that the amount which has been disallowed by the AO has been made by the assessee through bearer cheque. Before us, assessee has not pointed out the provisions of Rule 6DD under which the payment can be allowed. He has also not pointed out any fallacy in the findings of Ld.CIT(A). We therefore find no reason to interfere with the order of Ld.CIT(A)
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