Browsing Tag

ITAT Mumbai

42 posts
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.
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.