Hon’ble Delhi High court issued notice to Union of India to ascertain constitutional validity of taxability of notional taxation on unsold inventory of flats & commercial properties with Real Estate Developers

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Hon’ble Delhi High court issued notice to Union of India to ascertain constitutional validity of taxability of notional taxation on unsold inventory of flats & commercial properties with Real Estate Developers
Order passed by Hon’ble High court of Delhi in the case of SVP Builders India Ltd. issuing notice to Union of India, involving issue of constitutional validity of section 23(5) of Income Tax Act, 1961 providing for taxability of notional letting income of unsold inventory of flats & commercial properties with Real Estate Developers.

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