Section 23(5) Cannot Be Applied Retrospectively to Unsold Flats: ITAT Deletes Rs 31.56 Lakh Deemed Rent Addition:
ITAT deletes Rs. 31.56 lakh deemed rental income addition on unsold flats held as stock-in-trade, holding that Section 23(5) cannot apply retrospectively to AY 2017-18.
Notional Rental Income Cannot Be Taxed on Unsold Stock Before AY 2018-19: ITAT
Saloni Kumari
Aug 25, 2026
Premium
Section 23(5) Cannot Be Applied Retrospectively to Unsold Flats: ITAT Deletes Rs 31.56 Lakh Deemed Rent Addition
ITAT deletes Rs. 31.56 lakh deemed rental income addition on unsold flats held as stock-in-trade, holding that Section 23(5) cannot apply retrospectively to AY 2017-18.
Also Read
High Court Quashes Income Tax Demand Against Contractual Worker Over Misuse of PANIncome Tax Department Suspects Rs 5,121 Crore Tax Evasion in Uttar Pradesh After Examining Over 26,000 Property Registration DocumentsITAT Deletes Rs 2.06 Crore Addition Under Section 68 for Unsecured LoansITAT Holds Section 263 Revision Invalid on Taxability of Interest Under Section 28 of Land Acquisition Act
About Author
Saloni Kumari
Content Writer
Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].
Saloni is a Content Writer with 2+ years of experience at studycafe.in. She writes legal, taxation, and finance related content including GST, Income Tax etc. Skilled in translating complex judicial pronouncements and regulatory developments into clear, and reader-friendly articles. Experienced in covering judgements of ITAT, High Court, GSTAT, and news related to Income Tax, GST, and corporate law. She can be reached at [email protected].
StudyCafe
Delhi, Delhi, India
2931My Recent Articles
- Rs 843.97 Crore Bogus Political Party Donation Racket Unearthed in Gujarat, Income Tax Dept Files Complaint With CID (Crime)
- Retired Central GST Commissioner Kidnapped by Unknown Persons, Assailants Nabbed Within Hours
- Madhya Pradesh HC Quashes Section 74 GST Show Cause Notice Passed Against G R Infraprojects
- GSTAT Introduces SOP for Branch Officer-to-Branch Officer (BO-to-BO) Case Transfer Ensuring Seamless Reassignment of Cases
- GSTAT: E-Way Bills Cannot Be Invalidated Merely Because They Were Not Generated by Original Supplier
Up Next
Loading suggestions…
Recent Posts
All Posts
Recent Posts
All Posts