No Income Tax on Deemed Rent on Unsold Flats held by Builder: ITAT [Read Order]

Income Tax - Tax - Deemed Rent - Builder - ITAT - taxscan

The Pune Bench of Income Tax Appellate Tribunal ( ITAT ) has held that no income tax shall be levied on unsold flats held by a builder. The Assessee, Cosmopolis Constructions has filed the appeal as to whether Commissioner of Income Tax Appeals CIT(A) was justified in confirming the addition made by the AO on…

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