Mumbai Flat Redeveloped, Sold for Rs 1.95 Crore in 8 Days; ITAT Grants Tax...
A man in Mumbai sold his redeveloped 510-square-foot flat for Rs 1.95 crore within 8 days. Originally purchased in FY 2006-07, the flat was redeveloped after a 2012-13 agreement between the housing society and a builder. The redeveloped flat was handed over in 2018 under a Permanent Alternate Accommodation agreement. The tax authorities denied long-term capital gains, but ITAT granted relief to the seller.
TOI Business··Mumbai



