Browsing Tag

ITAT Mumbai

27 posts
In a major relief to housing societies, ITAT Mumbai has ruled that a Goregaon co-op society need not pay ₹11.38 crore tax on a 2015 redevelopment agreement that never materialised. The Tribunal held that notional stamp duty value does not constitute real income for the society.

Can A Residential Flat Used As Clinic Claim Capital Gains Exemption, Meant for Commercial Property?

ITAT holds that using a residential flat as a clinic does not make it eligible for Section 54F exemption, but directs fresh consideration under Section 54.
Many fear getting a tax notice if they invest capital gains in under-construction flats without a registered agreement. But a recent ITAT ruling proves that such buyers can still successfully claim Section 54 exemption.

Sold Old Flat, Invested in Under-Construction Property But No Agreement – Will You Get a Tax Notice?

Many fear getting a tax notice if they invest capital gains in under-construction flats without a registered agreement. But a recent ITAT ruling proves that such buyers can still successfully claim Section 54 exemption.
Housing Societies Can Claim Tax Relief on Interest Only from These Banks – Mumbai ITAT restores case of Chembur society and directs fresh verification as per Supreme Court judgment.

Housing Societies Can Claim Tax Relief on Interest Only from These Banks

Housing Societies Can Claim Tax Relief on Interest Only from These Banks – Mumbai ITAT restores case of Chembur society and directs fresh verification as per Supreme Court judgment.
In a major relief to housing societies, ITAT Mumbai has ruled that a Goregaon co-op society need not pay ₹11.38 crore tax on a 2015 redevelopment agreement that never materialised. The Tribunal held that notional stamp duty value does not constitute real income for the society.

Society Told to Pay ₹11.38 Crore as Income from Redevelopment

In a major relief to housing societies, ITAT Mumbai has ruled that a Goregaon co-op society need not pay ₹11.38 crore tax on a 2015 redevelopment agreement that never materialised. The Tribunal held that notional stamp duty value does not constitute real income for the society.
Should capital gains on a flat be calculated from the allotment letter date or registration date? ITAT Mumbai says allotment letter date prevails, giving major relief to homebuyers in a key order.

Allotment Letter Date or Registration Date: ITAT Mumbai Clarifies Key Rule for Capital Gains Tax on Flats

Should capital gains on a flat be calculated from the allotment letter date or registration date? ITAT Mumbai says allotment letter date prevails, giving major relief to homebuyers in a key order.