Section 50C Not Applicable to Cash Compensation for Non-Delivery of Flats: ITAT Mumbai

Suvarna Chandrakant Bhojane Vs ITO (ITAT Mumbai)

The appeal by Suvarna Chandrakant Bhojane (Appellant) contested the Revenue’s application of Section 50C to cash compensation received under a Development Agreement.

Dispute and Lower Authority’s Action

The Appellant had entered into a Development Agreement to give her land to a builder, expecting a share of flats in return. When the builder failed to deliver the flats within the stipulated 44 months, the Appellant received Rs. 1.85 crore as

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