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2018 (12) TMI 211 - AT - Income TaxIncome from house property - determining the notional lettable value of the unsold flats held by the assessee company as stock-in-trade of its business of builders and property developers - Held that:- Respectfully following the judgment of the Hon”ble High Court of Gujarat in the case of CIT Vs. Neha Builders (P) Ltd. [2006 (8) TMI 105 - GUJARAT HIGH COURT] and the aforesaid orders of the coordinate benches of the Tribunal, we are of the considered view that the lower authorities had erred in determining the notional lettable value of the unsold flats held by the assessee company as stock-in-trade of its business of builders and property developers, and bringing the same to tax in the hands of the assessee under the head “Income from house property”. We thus in terms of our aforesaid observations set aside the order of the CIT(A). - decided in favour of assessee.
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