ALV of Vacant Property in Unsold Flats form held as Stock-in-Trade and Remained Vacant during year is NIL: ITAT allows Vacancy allowance [Read Order]

Vacant Property - Unsold Flats - Stock in Trade - Remained Vacant - ITAT - taxscan

The Kolkata Bench of Income Tax Appellate Tribunal (ITAT) has allowed the vacancy allowance holding that the Annual Lettable Value (ALV) of vacant property in unsold flats forms which were held as stock in trade and retained vacant during the year would be NIL. The assessee, Sugam Realty Limited was a private limited company engaged…

Your free access to Taxscan has Expired

To read the article, get a premium account.

Taxscan Premium

Why should you subscribe?
  • Enjoy our website without interruptions from advertisements
  • Receive Daily newsletters
  • Receive realtime Telegram/Whatsapp news updates
  • Download original Judgements / Order / Notifications / Circulars, etc
  • Enjoy exclusive entry fees to Simplified series. (Webinars, Seminars, masterclasses, etc.)
  ₹1199 + GST for 1 year

Subscribe Now

taxscan-loader