Browsing Tag

ITAT Mumbai

23 posts
In a landmark ruling, the Maharashtra Real Estate Appellate Tribunal has directed Omkar Realtors to refund ₹7.69 crore plus interest from 2016 to a family for a flat in the stalled Omkar 1973 project, overturning MahaRERA’s order that denied interest and allowed a 2% deduction.

Why a Mumbai Builder Didn’t Have to Pay Tax on ₹55 Crore in Loans

Mumbai ITAT has dismissed a ₹55.5 crore tax addition on Supreme Lake View Bungalows Pvt. Ltd., confirming that properly documented and carried-forward loans cannot be taxed under Section 68.
In a major relief for homebuyers, ITAT Mumbai has ruled that stamp duty valuation for tax purposes must be taken from the booking date—even if the allotment letter is unregistered—protecting buyers from unfair tax demands caused by builder delays.

Income Tax Tribunal Mumbai: Booking Date Matters for Stamp Duty Valuation, Even Without Registered Agreement

In a major relief for homebuyers, ITAT Mumbai has ruled that stamp duty valuation for tax purposes must be taken from the booking date—even if the allotment letter is unregistered—protecting buyers from unfair tax demands caused by builder delays.
The Mumbai Income Tax Appellate Tribunal has ruled in favour of a Platinum Mall buyer in the Rubberwala Group case, holding that alleged cash payments cannot be taxed without solid proof.

Income Tax Tribunal Clears Buyer, Says ‘No Proof of Cash Payment’ in Rubberwala’s Platinum Mall Case

The Mumbai Income Tax Appellate Tribunal has ruled in favour of a Platinum Mall buyer in the Rubberwala Group case, holding that alleged cash payments cannot be taxed without solid proof.
Bollywood star Preity Zinta has sold her 11th-floor apartment in Bandra for ₹18.50 crore. The luxury residence was part of a redevelopment deal for her original 1999 property in the 'Parishram' building.

Preity Zinta Wins Big: ₹10.84 Crore Tax Addition Deleted in Quantum Park Flat Sale Controversy

In a landmark ruling, the Income Tax Appellate Tribunal has fully exonerated Preity Zinta in a ₹13-crore “circular transaction” case linked to the 2016 sale of her Quantum Park flat, ruling that the funds were part of genuine loan restructuring and not unaccounted income. The actress gets complete relief after a decade-long fight with the tax department.
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.