The Income Tax Appellate Tribunal (ITAT), Pune bench has held that the developer cannot be liable to pay income tax on the deemed rent from the unsold flats/ bungalows since the same is treated as stock-in-trade. During the course of assessment proceedings, AO noticed that assessee had ready possession of six unsold flats/bungalows but had […]
The post Unsold Flats / Bunglows can’t be Taxed on Notional Basis from Developer: ITAT [Read Order] appeared first on Taxscan | Simplifying Tax Laws.
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