23-September-2026
Taxation
 
Tenant received Rs 1.38 crore worth of flats for surrendering tenancy rights for society's redevelopment, he received income tax notice; Know how he won the case in ITAT Mumbai
22-Sep-2026

When Mr Devshichhadva, a tenant from Matunga, Mumbai got two flats in lieu of surrending his tenancy rights in a housing society stated for redevelopment, he got an income tax notice. He challenged this tax notice and won the case in ITAT Mumbai after a long fight. The ITAT Mumbai ruled that a Section 56(2)(x) tax notice cannot be sent to a tenant since he got two flats in exchange for surrendering his tenancy rights in a redevelopment building. To tell you more about Mr Devshichhadva, he was renting four shops in a housing society in Mumbai.

News Source:- https://economictimes.indiatimes.com/wealth/tax/tenant-received-rs-1-38-crore-worth-of-flats-for-surrendering-tenancy-rights-for-societys-redevelopment-he-received-income-tax-notice-know-how-he-won-the-case-in-itat-mumbai/articleshow/134404510.cms
 
 
 

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