Redevelopment Receipts Can’t Be Taxed Twice: ITAT Mumbai

ITO Vs MIG Co-op Housing Society Group II Limited (ITAT Mumbai) The appeal was filed by the Revenue against the order dated 3 April 2025 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, for Assessment Year 2014–15. The appeal arose from an assessment order passed under section 143(3) of the Income-tax Act, 1961 by the Assessing Officer. The matter was adjudicated by the Income Tax Appellate Tribunal Mumbai. The assessee, a cooperative housing society, had entered into a redevelopment agreement dated 26 April 2010 with a developer. Subsequently, a su...