Browsing Tag

ITAT Mumbai

34 posts
Mumbai woman's LTCG claim survives — ITAT rules builder's delayed ledger entry can't override actual 2007 allotment date. ₹17L addition deleted.

Mumbai Woman Bought Flat in 2007, Builder Wrote It in 2011 — Tax Dept Pounced

Mumbai woman’s LTCG claim survives — ITAT rules builder’s delayed ledger entry can’t override actual 2007 allotment date. ₹17L addition deleted.
ITAT Mumbai has given major relief to homebuyers by holding that stamp duty value on the date of allotment, and not registration, must be considered under Section 56(2)(x) when part payment is made through banking channels at the time of booking.

Stamp Duty Value on Date of Allotment to be Considered, Not Registration Date – Big Relief for Homebuyers

ITAT Mumbai has given major relief to homebuyers by holding that stamp duty value on the date of allotment, and not registration, must be considered under Section 56(2)(x) when part payment is made through banking channels at the time of booking.
ITAT Mumbai has remanded a ₹14.44 lakh stamp duty addition for fresh adjudication after ruling that the assessee was denied proper opportunity and hearing in a hastily completed reassessment.

ITAT Mumbai Remands Stamp Duty Addition for Fresh Hearing on Natural Justice Grounds

ITAT Mumbai has remanded a ₹14.44 lakh stamp duty addition for fresh adjudication after ruling that the assessee was denied proper opportunity and hearing in a hastily completed reassessment.
ITAT rules that mere mention of buyer’s name in builder’s seized Excel sheet is not enough to prove on-money payment and sustain addition. Addition of ₹25 lakh deleted.

Buyer’s Name in Builder’s Sheet Not Enough to Prove Cash Payment

ITAT rules that mere mention of buyer’s name in builder’s seized Excel sheet is not enough to prove on-money payment and sustain addition. Addition of ₹25 lakh deleted.
The ITAT ruled that the CPC applied the wrong deadline to deny Duru Mahal CHS its Rs 8.23 lakh Section 80P deduction — the society had filed its return a day before the correct due date.

Mumbai Co-op Housing Society Wins Rs 8.23 Lakh Tax Battle After Filing Return a Day Early

The ITAT ruled that the CPC applied the wrong deadline to deny Duru Mahal CHS its Rs 8.23 lakh Section 80P deduction — the society had filed its return a day before the correct due date.