Annual letting value of unsold flats - The intention of the ...

Active Use of Property for Business Qualifies as "Own" Occupation for Tax Purposes on Unsold Flats.

November 9, 2012

Case Laws Income Tax HC

Annual letting value of unsold flats - The intention of the lawmakers was that occupation of one’s own property, in the course of business, and for the purpose of business, i.e. an active use of the property, (instead of mere passive possession) qualifies as “own” occupation for business purpose. - HC

View Source

← Previous Next →

Annual letting value of unsold flats - The intention of the ...

Active Use of Property for Business Qualifies as "Own" Occupation for Tax Purposes on Unsold Flats.

November 9, 2012

Case Laws Income Tax HC

You may also like:

Addition of notional Annual Letting Value on closing stock of flats / spaces - The intention of the lawmakers was that occupation of one’s own property, in the course of...

Deemed rent u/s. 23(4) - Deemed rental income on unsold flats - In the present case that there is no dispute that the profits of the business of construction by the...

The appellant wrongly availed Cenvat credit on input services for unsold flats after issuance of completion certificate, contravening Rules 6(3) and 6(3A) of the Cenvat...

Income from house property - Deemed let out value of the closing stock - the unsold flats which are stock in trade when they were sold they are assessable under the head...

Income from house property - annual letting value of unsold flats - Estimating rental income by the AO for these three flats as income from house property was not...

Deemed rental income - the unsold flats which are stock in trade when they were sold they are assessable under the head ‘income from business’ when they are sold and...

The Income Tax Act did not intend to tax deemed rental income from properties held as stock-in-trade prior to the assessment year 2018-19. Section 23(5), introduced from...

Addition to the valuation of unsold flats - the valuation of unsold stock at the close of an accounting period is a necessary part of the process of determining the...

Reversal of CENVAT Credit proportionate pertaining to unsold area of flat/residential complex for which they got occupation certificate on 27.01.2017 - the respondent...

Rental income from unsold flats shown as stock-in-trade in the books - “ should not be assessed under the head “income from business” but under the head “income from...

Income from house property - Determining the ALV of flats disclosed in the stock in trade as per the Accounting standards and policies being fallowed consistently by the...

The assessee, a company engaged in development/construction and sale of flats and plots, had classified its properties into four categories: flats open for sale, let-out...

Gain on sale of land - capital gain or business income - The statement read as a whole does not indicate that the assessee has admitted as observed by A.O. in assessment...

CENVAT Credit - construction of residential property - unsold flats at the time of receipt of completion certification - demand of service tax/ reversal of credit set aside.

Deduction u/s 54F - LTCG - Out of these 24 flats, 15 flats are already sold in the present year and remaining 9 flats are likely to be sold within the period of three...

Quick Updates: