The Mumbai bench of the Income Tax Appellate Tribunal (ITAT), while allowing the assessee, a builder to credit the rental income from tenants towards the work-in-progress, held that such income cannot be taxed under the head “Income from House Property”. The assessee is in the business of builder and developer, was in the possession of Datar […]
The post Rent received by Builder not House Property Income: ITAT allows Crediting the same towards Work-In-Progress [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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