google-site-verification=2GeE3Sz4UudnlqvBff0NG8dPnRrz0y9xE4vH0HwPrm4 Geetanjali Home State | Best Real Estate Company in Gurgaon: No tax on value of new property under redevelopment agreement: ITAT

Friday, September 4, 2026

No tax on value of new property under redevelopment agreement: ITAT

A tax tribunal has sided with property owners involved in redevelopment disagreements, annulling a significant Rs 1.3 crore tax increment on a newly developed property. The tribunal emphasized that taxation under Section 56(2)(x) applies only when the property is actualized, meaning it cannot be taxed while still under construction. This ruling provides crucial tax relief for homeowners navigating complex redevelopment contracts.

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No tax on value of new property under redevelopment agreement: ITAT

A tax tribunal has sided with property owners involved in redevelopment disagreements, annulling a significant Rs 1.3 crore tax increment on...