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Wife wins case against tax department after getting Rs 1.85 crore compensation from builder for construction delay; ITAT Mumbai rules in her favour

Wife wins case against tax department after getting Rs 1.85 crore compensation from builder for construction delay; ITAT Mumbai rules in her favour

A woman received Rs 1.85 crore from a builder for delayed flat construction. The tax department sought to apply Section 50C, valuing the compensation higher. The Income Tax Appellate Tribunal Mumbai ruled in her favour. The tribunal stated Section 50C applies…

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