2018 (7) TMI 1307 - SCH - Income Tax

Income from house property - unsold inventory of built- up residential houses/flats were subject to the provisions of Section 22 read with Section 23 - notional annual letting value was taxable in the hands of the Assessee under the heads Income from House Property - as per assessee in view of the amendment to Section 23 of the Act with effect from 1st April 2002 in the assessee s case, the annual letting value of the properties held as stock in trade was to be considered as Nil - Held that - Leave granted.

Summary

The Supreme Court of India granted leave in the case, tagging it along with C.A. No. 5221/2013. The judges were Mr. A.K. Sikri and Mr. Ashok Bhushan. The legal representatives were Ms. Kavita Jha and Mr. Aniket D. Agarwal.