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ITAT Mumbai ruling

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In a key ruling, ITAT Mumbai allowed Valencia Co-Operative Housing Society in Powai to claim tax deduction on interest earned from co-operative bank deposits, clarifying when housing societies can legally avoid tax on such income.

Can a Housing Society Claim Tax Deduction on Interest from Co-operative Banks?

In a key ruling, ITAT Mumbai allowed Valencia Co-Operative Housing Society in Powai to claim tax deduction on interest earned from co-operative bank deposits, clarifying when housing societies can legally avoid tax on such income.
In a pro-justice move, MahaREAT condoned delay in a homebuyer's appeal, recognizing MahaRERA's error in awarding possession instead of the requested refund, and will now hear the matter on merits to prevent injustice on technical grounds.

Got Extra Carpet Area in Redevelopment? No Income Tax — If Conditions Are Met

In a key ruling involving CA Divyesh Ramniklal Muni, ITAT Mumbai held that extra carpet area received in redevelopment is not taxable if purchased at a documented cost and Section 54 conditions are fulfilled.