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CITS PROJECT
Man surrendered tenancy rights for Rs 11 crore flat in redevelopment project; Income Tax dept issued notice but ITAT Mumbai ruled in his favour. Here's whyA Mumbai tenant received a Rs 11 crore apartment for giving up tenancy rights during redevelopment. The Income Tax department questioned th...26 Mar, 2026, 01.41 PM IST- Lady signs POA with land owner, builds flats on land and sells, claims Rs 13 crore tax deduction, I-T dept sends notice; She fights back and wins in HCThe Madras High Court has ruled that taxpayers can claim deductions under Section 80-IB without owning the land. This decision supports a p...16 Jan, 2026, 05.33 PM IST
- Homebuyer sold redevelopment rights, got flats and Rs 1.6 crore, claimed Section 54 tax exemption, got notice from tax dept: He fights and wins case in ITAT MumbaiThe Income Tax Appellate Tribunal in Mumbai has made a noteworthy ruling regarding property redevelopment, stating that any extra space bou...11 Dec, 2025, 01.04 PM IST
- Homeowners, not housing society, must pay capital gains tax on sale of development rights to builders, rules ITAT MumbaiThe Income Tax Appellate Tribunal Mumbai has ruled that individual homeowners are liable for capital gains tax when their housing society s...15 Nov, 2025, 03.00 PM IST
- India's direct tax collections up 24% to Rs 15.67 lakh crore till February 10Direct Tax collection, net of refunds, stands at Rs. 12.98 lakh crore which is 18.40% higher than the net collections for the corresponding...12 Feb, 2023, 07.16 AM IST
- Direct tax collection grows 24 per cent to Rs 8.98 lakh crore till Oct 8The Finance Ministry on Sunday informed that India's direct tax collection surged 24 per cent to Rs 8.98 lakh crore between April 1 - Octob...10 Oct, 2022, 06.10 AM IST
- ITAT rules in favour of Tata Education trust, disallows IT dept’s demand of over Rs 100 crEarlier, the Public Accounts Committee (PAC), in its report submitted to the Lok Sabha had noted that the Tata Trust was allowed an exempti...25 Jul, 2020, 06.55 AM IST
- Deferred fund raising, trouble at associate hit Quess Corp stockQuess Corp's CMD Ajit Isaac told ETNow in an interview that the smart city project of Ahmedabad is almost complete.05 Jul, 2019, 07.55 AM IST
- Optical fibre cable network for Defence may face delays, says Ravi Shankar PrasadGovt said the optical fibre cable network for Defence Services is likely to face time overruns due to litigation in procurement and difficu...11 Jul, 2018, 12.20 PM IST
- I-T Department constitutes 7-member panel to devise e-scrutiny proceduresThe Central Board of Direct Taxes has already started phased pilot projects for email-based assessments in 7 cities for individual assessee...21 Dec, 2016, 04.49 PM IST
- Impose penalty, initiate prosecution of non-filers: Tax DeptThe number of non-filers with potential tax liabilities has risen from 22.09 lakh in 2014 to 58.95 lakh in 2015. Non filers in 2013 were 12...21 Jun, 2016, 03.15 PM IST
- Commonwealth finance ministers meeting: Arun Jaitley bats for automatic exchange of information to tackle black moneyJaitley welcomed the efforts of OECD in areas of BEPS project and automatic exchange of information which have important implications for C...09 Oct, 2015, 02.26 AM IST
- Government proposes to set up Advanced Training Institutes at a cost of over Rs 200 croreLabour Ministry said that ATIs was part of 'Make in India' which aims to transform India as a manufacturing hub & lays emphasis on skill de...07 Nov, 2014, 06.27 PM IST
- Upper Tamakoshi Hydropower Project gets ready for Rs 518-crore IPOThe company has authorised Citizen Investment Trust (CIT) to manage the tasks relating to the share issue.06 Feb, 2013, 06.59 PM IST
- ‘Cannot tax unpaid fee for tech services’Since the taxpayer company was following mercantile system of accounting, the FTS had accrued notwithstanding the non-receipt of the RBI ap...24 Dec, 2012, 11.25 AM IST
- India Post launches online postal transactions serviceIndia Post today announced launch of online portal 'e-post office' to provide postal transaction and tracking service online.09 Mar, 2011, 06.31 PM IST
- Aqua takes over 3 Hong Kong-based companiesAqua Logistics has completed acquisition of 3 Hong Kong-based companies - CIT Logistics, TAG Logistics and AGI Logistics through its wholly...07 Jun, 2010, 03.09 AM IST
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