Browsing Tag

redevelopment tax

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Builder Paid ₹13.5 lakh in Redevelopment; Taxman Taxed Member

Builder paid ₹13.5 lakh in redevelopment; taxman taxed member on unspent part

A member of a Bandra East MIG housing society received ₹13.50 lakh…
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.

No Tax on Temporary Flat: ITAT Rules Developer’s Alternate Accommodation Isn’t a Taxable “Transfer” of Property

ITAT Mumbai delivers big relief: Temporary flat given by developer during land redevelopment isn’t a taxable “transfer” — no capital gains apply when it’s purely interim with no ownership rights passed, quashing Rs 13.56 lakh addition.