Dy. CIT v. Neepa Real Estates P. Ltd. (2024)116 ITR 247 / 171 taxmann.com 56 (Mum) (Trib)

S. 23 : Income from house property-Annual value-Stock in trade-Notional value-Amendment is prospective. [S. 22, 23(5)]-

Dismissing the appeal of the Revenue the Tribunal held that insertion of section 23(5) by the Finance Act, 2017 with effect from April 1, 2018, it wis  clear that for the computation of annual value of property held as stock-in-trade certain moratorium period had been given. However, the newly inserted provisions in section 23(5) were to be applicable only with effect from assessment year 2018-19 and not for the year under consideration. Order of CIT(A) is affirmed  (AY. 2017-18)

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