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No Section 56(2)(x) Tax on Redevelopment Flat Without Possession: ITAT Mumbai
Case Law Details
- Case Name
- Snchalata Heramb Dhayagude Vs Jurisdictional AO (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Mumbai
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Snchalata Heramb Dhayagude Vs Jurisdictional AO (ITAT Mumbai)
Section 56(2)(x) Cannot Apply Because No Immovable Property Was Actually Received During the Year; No Tax Under Section 56(2)(x) Because Right to Future Flat Is Not Equal to Receipt of Property; Redevelopment Flat Not Taxable Under Section 56(2)(x) Because Possession Was Not Handed Over; Stamp Duty Value Addition Fails Because Receipt of Alternate Accommodation Had Not Occurred; Section 56(2)(x) Addition Deleted Because Possession Is Essential to Constitute Receipt of Immovable Property; Tax on Redevelopment Accommodation Held Prema...
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