What did the Tribunal hold?

The Tribunal followed its own precedent for a similar issue in the assessee's own case for a different assessment year. Based on this precedent, the Tribunal decided to delete the addition made by the AO.

The assessee, a builder and developer, had unsold units (show-rooms and office) which were treated as stock-in-trade. The AO added the annual letting value of these unsold units to the assessee's income.

What were the issues?

Whether the annual letting value of unsold units lying as stock-in-trade can be added to the income of a builder and developer.

M/S. Shree Balaji Ventures vs DCIT | ITAT Pune 2022

Income Tax Appellate Tribunal, PUNE BENCH “B”, PUNE

Before: SHRI R.S. SYAL & SHRI PARTHA SARATHI CHAUDHURY

For Appellant: Shri Krishna Gujarathi

For Respondent: Shri Suhas Dabade

आदेश की प्रतिलिपि अग्रेपिि/Copy of the Order is forwarded to: अपीऱधर्थी / The Appellant; 1. प्रत्यर्थी / The Respondent; 2. 3. The CIT(A), Pune-5, Pune 4. The Pr.CIT, Pune-4, Pune विभागीय प्रविविवि, आयकर अपीलीय अविकरण, पुणे “B” / 5. DR „B‟, ITAT, Pune 6. गार्ड फाईल / Guard file

आदेशानुसार/ BY ORDER, // True Copy // Senior Private Secretary आयकर अपीलीय अविकरण ,पुणे / ITAT, Pune

Date 1. Draft dictated on 12-05-2022 Sr.PS 2. Draft placed before author 12-05-2022 Sr.PS 3. Draft proposed & placed before the JM second member 4. Draft discussed/approved by Second JM Member. 5. Approved Draft comes to the Sr.PS/PS Sr.PS 6. Kept for pronouncement on Sr.PS 7. Date of uploading order Sr.PS 8. File sent to the Bench Clerk Sr.PS 9. Date on which file goes to the Head Clerk 10. Date on which file goes to the A.R. 11. Date of dispatch of Order. *

M/S. SHREE BALAJI VENTURES,PUNE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE - 7, PUNE

What did the Tribunal hold?

What were the facts?

What were the issues?

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