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The Economic Times

Economy / The Economic Times

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'Redevelopment agreement not a property receipt, so not taxable': ITAT

Mumbai ITAT ruled agreement registration does not mean property receipt. Tax cannot be levied on future property rights under anti-abuse provisions. The tribunal allowed a taxpayer's appeal against a 1.38 crore tax addition. Registration creates contractual rights, not actual property possession or receipt. This decision clarifies tax treatment for ongoing redevelopment projects in Mumbai.

22 Jul 2026 12:08 am