Taxability of property held in stock in trade - it is now ...

Income Tax

May 31, 2019

Taxability of property held in stock in trade - it is now abundantly clear from Sec. 23(5) that until the completion certificate is not issued by the competent authority and two years thereafter; annual value of the unsold units shall be NIL - since certificate only issued on 01.07.2015, the property in question for the both the assessment years 2011-12 and 2012-13 are not taxable

View Source

← Previous Next →

Taxability of property held in stock in trade - it is now ...

Income Tax

May 31, 2019

You may also like:

Addition on account of notional rent u/s.23 - whether or not the ALV of the properties held by the assessee as stock-in-trade of its business as that a real estate...

Income from house property - computing the ALV of unsold units - Amendment inserted in section 23(5) is applicable w.e.f. 01-04-2018 and is not applicable for the year...

Revision u/s 263 - Deemed rental value - income from house property - applicability of provisions u/sec. 23(5) - The ITAT found that the Pr.CIT's order was justified in...

Income from house property - estimating rental income from the unsold shops - the unsold fifty five shops should be treated as ‘stock in trade. As assessee`s case under...

Import of cosmetics products (the make-up Kit) - prohibited or restricted goods? - For this purpose that the CDSCO Certificates are issued by the afore-mentioned...

Income from house property - consider the Ambey Valley property as self-occupied property - determination of annual value - CIT(A) has upheld that the 7% of cost of...

Notional rental income on commercial property u/s 23(1)(a) - notional rental income on unsold stock u/s 23(1)(a) - There being impossibility of renting out the property,...

Income from house property - deemed rental income - notional annual value (NAV) u/s 23(1)(a) - without allowing a reasonable period or time gap from the completion of...

Rental income from unsold flats shown as stock-in-trade in the books - “ should not be assessed under the head “income from business” but under the head “income from...

Income from house property - unsold inventory of built- up residential houses/flats - the properties held as stock in trade will be taxable under the notional annual...

Quick Updates: