No addition can made u/s 23(4) of Act on Deemed Rent on Unsold Flats declared as Stock In Trade: ITAT [Read Order]

By Aparna. M - On May 3, 2023 7:00 pm - 2 mins read
u - s - 23(4) - Act - Deemed - Rent - on - Unsold - Flats - declared - as - Stock - In - Trade - ITAT - TAXSCAN

In a significant case the Pune bench of the Income Tax Appellate Tribunal (ITAT) held that no addition could be made under Section 23(4) of Income Tax Act, 1961 on deemed rent on unsold flats declared as stock in trade . Section 23(4) of Income Tax Act deals with determination of annual value in case…

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