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

Tenant receives Rs 1.38 crore permanent alternate accommodation, gets Section 56(2)(x) tax notice; ITAT Mumbai gives relief; know why. This judgement was given by Vikram Singh Yadav, the Accountant Member along with Siddhartha Nautiyal, the Judicial Member of ITAT Mumbai.

from Tax-Wealth-Economic Times https://ift.tt/5pTMkFb