Browsing Tag

Real Estate Taxation

5 posts
In a key ruling, ITAT Mumbai has sent back Raheja Universal Pvt. Ltd.'s deemed rental income dispute on unsold flats for fresh evidence-based assessment, stressing objective valuation under Section 23(5) while upholding major reliefs for the prominent developer on other issues.

Raheja Universal’s Deemed Rent Dispute on Unsold Flats Sent for Fresh Calculation

In a key ruling, ITAT Mumbai has sent back Raheja Universal Pvt. Ltd.’s deemed rental income dispute on unsold flats for fresh evidence-based assessment, stressing objective valuation under Section 23(5) while upholding major reliefs for the prominent developer on other issues.
In a significant win for homebuyers, MahaRERA and the Appellate Tribunal upheld a 2005 booking despite the handling director's death and promoters' denial of knowledge, directing execution of agreement for an equivalent flat or refund with interest — a reminder of RERA's buyer protections even in legacy cases.

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.
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.
GST

GST Council’s Latest Decision Targets Revenue Leakage with New Rules on Commercial Property Rentals

GST Council’s 54th meeting introduces significant changes to commercial property rentals, applying Reverse Charge Mechanism (RCM) to transactions involving unregistered landlords to curb revenue leakage. Additionally, location and Preferential Location Charges are now classified under construction services with reduced GST rates, improving transparency and reducing friction in the real estate market.