{"id":14529,"date":"2020-12-23T09:00:14","date_gmt":"2020-12-23T09:00:14","guid":{"rendered":"https:\/\/itatonline.org\/digest\/osho-developers-v-acit-2020-bcaj-december-p-43-www-itatonline-org-mum-trib\/"},"modified":"2020-12-23T09:00:14","modified_gmt":"2020-12-23T09:00:14","slug":"osho-developers-v-acit-2020-bcaj-december-p-43-www-itatonline-org-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/osho-developers-v-acit-2020-bcaj-december-p-43-www-itatonline-org-mum-trib\/","title":{"rendered":"Osho Developers v .ACIT ( 2020) BCAJ-December -P 43\/ www.itatonline.org ( Mum) (Trib)"},"content":{"rendered":"<p>AO assessed the unsold flats which was held as stock in trade as income from house property on notional basis . CIT (A) affirmed the order of the AO .On appeal\u00a0 allowing the appeal of the assessee the Tribunal held that ,\u00a0 Annual value of the flats held by the assessee as part of the stock in trade of its business as that of a builder could not have been determined and brought to tax under the head income from house property . ( Referred CIT v. Ansal Housing Finance and Leasing Company Ltd ( 2013) 354 ITR 180 ( Delhi) (HC), CIT v . Gundecha Builders ( 2019) 102 taxmann.com 27 ( Bom) (HC), CIT v. Neha Builders (2008) 296 ITR 661 (Guj) (HC) , K. Subaramanian\u00a0 v . Siemens India Ltd ( 1985) 156 ITR 1( Bom) (HC) , Rajendra Godshalwar v .ITO (ITA No. 7470\/Mum\/ 207 dt 31-1 2019 (SMC) (Mum) (Trib)) ( ITA No. 2372&amp; 1860\/Mum\/ 2019 dt 3. 11-2020) ( AY. 2014 -15, 2015-16)<\/p>\n<p><strong>\u00a0<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 22 : Income from house property \u2013Un sold flat held as stock in trade- Annual value  Rental income assessable as business income- [ S.28(i)]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14529","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3Ml","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14529","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14529"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14529\/revisions"}],"predecessor-version":[{"id":14530,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14529\/revisions\/14530"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14529"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14529"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14529"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}