Builder not liable to Pay Notional Rent on Residential Assets held as Stock-in-Trade: ITAT deletes Income Tax Addition [Read Order]

By Yogitha S. Yogesh - On January 3, 2023 7:55 pm - 2 mins read
Builder - Residential Assets - Notional Rent - -Notional Rent on Residential Assets - Stock-in-Trade - ITAT - Income Tax Addition - taxscan

The Pune bench of the Income Tax Appellate Tribunal (ITAT) has held that the addition of notional rent in respect of residential assets held as stock-in-trade by the Builder is not valid. M/s.Balkrishna Shanmugham Chettiar, the assessee has constructed and is operating an Industrial Park under the Industrial Park Scheme 2002. The AO disallowed the…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹2299 + GST for 1 year

Subscribe Now

Already a member? Log in here

Topics

taxscan-loader