In a significant ruling for Mumbai’s redevelopment sector, the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has held that the mere execution and registration of a redevelopment agreement does not amount to the receipt of immovable property and, therefore, cannot trigger taxation under anti-abuse provisions of the Income Tax Act. The decision comes […]
ITAT Clarifies Tax Treatment of Redevelopment Agreementsmore
A recent ruling by the Mumbai Income Tax Appellate Tribunal (ITAT) has provided significant clarity for property owners participating in redevelopment projects. The tribunal has held that compensation received from the transfer of redevelopment rights should be treated as ‘capital gains’ and not as ‘income from other sources’, potentially impacting thousands of redevelopment agreements across […]
ITAT Ruling Brings Tax Clarity to Redevelopment Rights Transfersmore
In a significant ruling with implications for family-funded property transactions across India, the Income Tax Appellate Tribunal (ITAT), Mumbai Bench, has held that the absence of a formal gift deed, by itself, cannot justify treating a property purchase as an unexplained investment when the source of funds is clearly established. The decision comes at a […]
ITAT Upholds Family Property Funding, Says Absence of Gift Deed Alone Cannot Trigger Tax Additionmore
