{"id":4772,"date":"2019-04-08T09:23:49","date_gmt":"2019-04-08T09:23:49","guid":{"rendered":"http:\/\/itatonline.org\/digest\/s-d-corporation-p-ltd-v-pcit-2019-175-itd-164-mum-trib\/"},"modified":"2019-04-08T09:23:49","modified_gmt":"2019-04-08T09:23:49","slug":"s-d-corporation-p-ltd-v-pcit-2019-175-itd-164-mum-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/s-d-corporation-p-ltd-v-pcit-2019-175-itd-164-mum-trib\/","title":{"rendered":"S.D. Corporation (P.) Ltd.  v. PCIT (2019) 175 ITD 164 (Mum.)(Trib.)"},"content":{"rendered":"<p>Allowing the appeal of the assessee the Tribunal held that\u00a0 In view of contrary decisions of High Court, issue as to whether notional income on unsold flat held by assessee-builder as stock-in-trade in its books of account should be assessed as income from house property is a debatable issue, and hence order of Assessing Officer for not bringing unsold flats to tax at notional letting value under head &#8216;income from other sources&#8217; which was one of possible views-Revision is not valid. CIT v. Ansal Housing Finance &amp; Leasing co. Ltd. (2013) 354 ITR 180 (Delhi)(HC). Neha Builders (P.) Ltd. (2007) 164 Taxman 342 (Guj.)(HC) \u00a0(AY. 2013-14)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 263 : Commissioner-Revision of orders prejudicial to revenue\u2013 unsold flats held as stock in trade-Notional value-In view of contrary decisions of High Court, issue as to whether notional income on unsold flat held by assessee-builder as stock-in-trade in its books of account should be assessed as income from house property is a debatable issue, and hence order of Assessing Officer for not bringing unsold flats to tax at notional letting value under head &#8216;income from other sources&#8217; which was one of possible views- Revision is not valid. [S. 22, 23, 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":[1],"tags":[],"class_list":["post-4772","post","type-post","status-publish","format-standard","hentry","category-digest"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-1eY","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4772","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=4772"}],"version-history":[{"count":0,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/4772\/revisions"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=4772"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=4772"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=4772"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}