Income from house property - annual letting value of unsold ...

Assessing Officer's Rental Income Estimation for Unsold Flats Deemed Unjustified; Considered Stock-in-Trade for Business Income Tax.

July 2, 2021

Case Laws Income Tax AT

Income from house property - annual letting value of unsold flats - Estimating rental income by the AO for these three flats as income from house property was not justified insofar as these flats were neither given on rent nor the assessee has intention to earn rent by letting out the flats. The flats not sold was its stock-in-trade and income arising on its sale is liable to be taxed as business income - AT

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Income from house property - annual letting value of unsold ...

Assessing Officer's Rental Income Estimation for Unsold Flats Deemed Unjustified; Considered Stock-in-Trade for Business Income Tax.

July 2, 2021

Case Laws Income Tax AT

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