Browsing Tag

ITAT Mumbai

29 posts
A Thane homebuyer spent 14 years proving he didn't pay cash for his flat. The IT Department had a spreadsheet. ITAT had the last word.

Builder Confirmed No Cash, IT Department Didn’t Believe Homebuyer

A Thane homebuyer spent 14 years proving he didn’t pay cash for his flat. The IT Department had a spreadsheet. ITAT had the last word.
redevelopment tax notice, mumbai redevelopment, section 56(2)(vii)(b), itat mumbai, extra area purchase, stamp duty valuation, income tax on flat purchase, redevelopment tax harassment, 10% tolerance limit, sudha thakur itat

Mumbai Redevelopment Trap: Buying Extra Area from Builder Triggers Income Tax Notice

Buying extra area during Mumbai redevelopment can land you an income tax notice. ITAT Mumbai recently deleted ₹2.82 lakh addition in a landmark ruling, giving relief to thousands of flat owners.
In a landmark order, the Maharashtra State Co-operative Appellate Court has upheld the removal of 50 defunct members from Irla CHS records, ruling that membership automatically ceases upon transfer of interest during redevelopment.

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.