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2023 (5) TMI 535 - AT - Income TaxCorrect head of income - Deemed rent from unsold units lying in closing stock - annual rental value on unsold flats built by assessee engaged in construction business - assessed under the head "Business Income" or "Income from House Property" - HELD THAT:- As per assessee’s own case which are on record [2018 (9) TMI 1621 - ITAT PUNE] held notional annual rental value on unsold flats held as stock-in-trade by the assessee engaged in construction and development activities as "Business Income". Thus no addition is maintainable on account of deemed rent on unsold flats which were treated as stock-in-trade by the assessee. Thus, the grounds raised by the assessee are allowed.
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