9911796707
TMI Blog2023 (5) TMI 535X X X X Extracts X X X X X X X X Extracts X X X X ..... y assessee engaged in construction business - assessed under the head Business Income or Income from House Property - HELD THAT:- As per assessee s own case which are on record [ 2018 (9) TMI 1621 - ITAT PUNE ] held notional annual rental value on unsold flats held as stock-in-trade by the assessee engaged in construction and development activities as Business Income . Thus no addition is maintain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he outset, the ld. AR and ld. DR fairly conceded that the issue raised in the present appeal is covered by the orders of this Tribunal in assessee's own case which are on record in ITA Nos. 230 & 231/PUN/2018 for A.Ys. 2013-14 and 2014-15 vide order dated 12-09-2018. The relevant portions of the said order are reproduced here-in-below for ready reference: "8. In the case of Commissioner of Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aged in construction business. The assessee rented out unsold flats and suo-motu offered rental income from the flats under the head 'Income from House Property'. On the contrary the Revenue wanted to tax rental income under the head 'Business Income'. The matter travelled to the Tribunal. The Tribunal held that the income earned by the assessee from renting of flats is to be assessed under the he ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Commissioner of Income Tax Vs. Sane & Doshi Enterprises (supra) would not apply in the facts of the present case. 10. We further find that Mumbai Bench of the Tribunal in M/s. C.R. Developments Pvt. Ltd. Vs. JCIT (supra), M/s. Runwal Constructions Vs. ACIT (supra) and Shri Girdharilal K. Lulla Vs. DCIT (supra) under similar set of facts have taken a consistent view in holding notional annual re ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
