Deemed Rent not applicable to Property that is ‘Stock-in-Trade’: ITAT [Read Order]

Deemed Rent - Property - Stock-in-Trade - ITAT - taxscan

The Income Tax Appellate Tribunal (ITAT), Ahmedabad bench has held that the concept of deemed rent cannot be applicable to the properties which are treated as ‘stock-in-trade’ of a business. The assessee,M/s. Shoppers Buildcon Private Ltd, a company which is engaged in the business of construction and development of commercial and residential projects, approached the…

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