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ITAT Mumbai ruling

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In a major win for homebuyers, the Maharashtra Real Estate Appellate Tribunal has directed CCI Projects to pay delay interest at SBI MCLR + 2% to two allottees in the Rivali Park Winter Green project, setting aside the MahaRERA order that had rejected their compensation claim. The Tribunal ruled that unilateral extensions of possession dates by the promoter are invalid and that buyers do not waive their rights by continuing payments.

Stamp Duty Value Much Higher Than What You Paid? This Mumbai Homebuyer Just Saved ₹31.76 Lakh in Tax

“Bought a house below stamp duty value? This Mumbai man saved ₹31.76 lakh in tax because the difference was brought under 10% with DVO valuation. Full case study on how homebuyers can protect themselves from Section 56(2)(x) tax demands.”
“In a dramatic turn, the Bombay High Court has ruled that 6 votes were not enough to remove the Chairperson of a Goregaon housing society because a newly appointed member’s voting right was denied — turning a 0.67 fraction into the decisive factor in a bitter redevelopment battle.”

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 key ruling, the Maharashtra Co-operative Appellate Court has held that past members of housing societies can directly sue for refund of amounts paid under disputed NOC conditions without needing permission from current flat owners. The court dismissed the society’s challenge to jurisdiction, clarifying that such disputes arising during membership fall squarely under Section 91 of the MCS Act.

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.