Browsing Tag

real estate tax

6 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 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.
Many fear getting a tax notice if they invest capital gains in under-construction flats without a registered agreement. But a recent ITAT ruling proves that such buyers can still successfully claim Section 54 exemption.

Sold Old Flat, Invested in Under-Construction Property But No Agreement – Will You Get a Tax Notice?

Many fear getting a tax notice if they invest capital gains in under-construction flats without a registered agreement. But a recent ITAT ruling proves that such buyers can still successfully claim Section 54 exemption.
ITAT Mumbai rules that Section 56(2)(x) additions cannot be made without DVO valuation when stamp duty value is disputed due to title defects or encroachments.

Bought Property at Lower Price Due to Legal Issues? Stamp Duty Value Can’t Be Applied Blindly

ITAT Mumbai rules that Section 56(2)(x) additions cannot be made without DVO valuation when stamp duty value is disputed due to title defects or encroachments.
India’s property buyers are making decisions faster, with average deal closure time falling to 26 days in 2025 and premium ₹2–3 crore homes selling in just 15 days, according to ANAROCK data.

Cancellation Loss Allowed – But Only in the Right Year: Key ITAT Ruling for Mumbai Builders

ITAT Mumbai has clarified that real estate developers can claim losses from cancelled bookings, but only in the financial year the reversal actually occurs — and only after proving no double deduction. The ruling also protects old scrutiny assessments from being invalidated due to Income Tax Department jurisdiction changes during cadre restructuring.