Sale of Unsold Flats by Builder Taxable as “Business Income”: ITAT [Read Order]

Sale of Unsold Flats - Sale - Unsold Flats - Builder - Taxable - Business Income - Business - Income - ITAT - taxscan

The Ahmedabad Bench of Income Tax Appellate Tribunal ( ITAT )has held that the income from sale of unsold flats by the builders should be taxable under the head of income from business.  Assessee – Ashrita Construction Pvt. Ltd, was engaged in the business of real estate development/construction and has developed a Commercial Complex. Assessee…

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