A Mumbai tenant successfully challenged a Rs 1.1 crore tax notice. He surrendered tenancy for a new flat in a redeveloped building. The Income Tax Appellate Tribunal ruled in his favour. The tribunal stated that the surrender of tenancy rights, the taxable ev…
Gave up tenancy, got new flat in redeveloped property, then faced income tax notice of STCG of Rs 1.1 crore: How tenant won at ITAT Mumbai
