TMI Blog2023 (5) TMI 535X X X X Extracts X X X X X X X X Extracts X X X X ..... come 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 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... , the ld. AR and ld. DR fairly conceded that the issue raised in the present appeal is covered by the orders of this Tribunal in assessee s own case which are on record in ITA Nos. 230 231/PUN/2018 for A.Ys. 2013-14 and 2014-15 vide order dated 12-09-2018. The relevant portions of the said order are reproduced here-in-below for ready reference: 8. In the case of Commissioner of Income Tax V ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in construction business. The assessee rented out unsold flats and suo-motu offered rental income from the flats under the head Income from House Property . On the contrary the Revenue wanted to tax rental income under the head Business Income . The matter travelled to the Tribunal. The Tribunal held that the income earned by the assessee from renting of flats is to be assessed under the head ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... missioner of Income Tax Vs. Sane Doshi Enterprises (supra) would not apply in the facts of the present case. 10. We further find that Mumbai Bench of the Tribunal in M/s. C.R. Developments Pvt. Ltd. Vs. JCIT (supra), M/s. Runwal Constructions Vs. ACIT (supra) and Shri Girdharilal K. Lulla Vs. DCIT (supra) under similar set of facts have taken a consistent view in holding notional annual ren ..... X X X X Extracts X X X X X X X X Extracts X X X X
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