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UNSOLD FLATS
Rental income derived from the unsold flats which were shown as stock in trade in the books of the assessee should be assessed under which head??
Replies (2)
Income From House Property
Sir I refer the case law ie., Discovery Estate Pvt. Ltd..
But I don't find the logic because as the unsold flats are shown as stock.. Then the rental income should be taxed as business income.. This is as per my view.. Kindly rectify..
But I don't find the logic because as the unsold flats are shown as stock.. Then the rental income should be taxed as business income.. This is as per my view.. Kindly rectify..
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