Browsing Tag

ITAT Mumbai

35 posts
Appellate court awards ₹2 lakh to senior citizen after society failed to resolve years of terrace leakage complaints.

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 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.

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.
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.

Hacked Email, Rs 1 Crore Property Deal and a Penalty She Never Deserved

Tax notices went to her hacked email. She explained a Rs 1 crore property deal, officer accepted everything — yet a Rs 20,000 penalty followed. ITAT set it right.
A cancelled property deal, Rs 40 lakh in cash deposits, and a developer who went silent — how an Ambernath woman finally won her tax battle at ITAT Mumbai.

Property Deal Gone Wrong: Rs 40 Lakh Cash Deposit Lands Ambernath Woman in Tax Trouble

A cancelled property deal, Rs 40 lakh in cash deposits, and a developer who went silent — how an Ambernath woman finally won her tax battle at ITAT Mumbai.