Browsing Tag

ITAT Mumbai

14 posts
ITAT Mumbai dismisses Dadar housing society’s appeals for 2011–16 after 7-year delay, despite society being legally correct on ₹4–5 lakh 80P deduction claim.

Income Tax Tribunal slams door on Dadar housing society: 7-year delay costs ₹4–5 lakh tax relief despite being legally correct

A 15-member Dadar senior-citizens housing society lost its fully valid ₹4–5 lakh tax exemption claim only because it filed appeals 7–8 years late. ITAT Mumbai refused to condone the “gross negligence”, slamming the door despite the department being clearly wrong on law. A harsh reminder: even if you’re 100% right, miss the limitation period by years and you lose everything.
A Mumbai seller accepted ₹13 lakh in cash during a registered property sale—and still won her tax case. ITAT ruled the cash was fully explained. Here’s why documentation saved her.

Cash in Property Deals? This Seller Took It—And Still Won a ₹13 Lakh Tax Fight

A Mumbai seller accepted ₹13 lakh in cash during a registered property sale—and still won her tax case. ITAT ruled the cash was fully explained. Here’s why documentation saved her.
In a major redevelopment-taxation ruling, the ITAT Mumbai held that redevelopment benefits belong to flat owners, not the society. The Tribunal rejected the Income Tax Department’s ₹4.97 crore capital gains demand.

Income Tax Tribunal Rules: Redevelopment Gains Not Taxable for Housing Societies; Crucial Shield for Flat Owners

In a major redevelopment-taxation ruling, the ITAT Mumbai held that redevelopment benefits belong to flat owners, not the society. The Tribunal rejected the Income Tax Department’s ₹4.97 crore capital gains demand.
ITAT Mumbai has ruled that land cost must be included in real estate project cost under POCM, upholding a ₹47.26 crore tax addition against a developer. The decision impacts how builders calculate revenue in joint development projects.

ITAT Mumbai Upholds ₹47 Crore Tax Addition: Land Cost Must Be Counted in Real Estate Revenue Calculations

ITAT Mumbai has ruled that land cost must be included in real estate project cost under POCM, upholding a ₹47.26 crore tax addition against a developer. The decision impacts how builders calculate revenue in joint development projects.