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Mumbai tenant wins Rs 1.1 crore STCG tax fight after surrendering tenancy for new flat
Business
Published on 14 May 2026
ITAT says the taxable event happened later
A Mumbai tenant who surrendered tenancy to move into a new flat in a redeveloped building fought an Income Tax notice alleging Rs 1.1 crore in short-term capital gains. The ITAT Mumbai ruled the alleged taxable event, the surrender of tenancy rights, did not occur in the assessment year cited, overturning the demand.
- Tenant surrendered tenancy for a redeveloped building flat
- Income Tax notice claimed Rs 1.1 crore STCG
- ITAT held the surrender event fell outside the assessment year
- Tax demand was quashed based on timing of the taxable event
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times