Mumbai ITAT ruled agreement registration does not mean property receipt. Tax cannot be levied on future property rights under anti-abuse provisions. The tribunal allowed a taxpayer's appeal against a ₹1.38 crore tax addition. Registration creates contractual rights, not actual property possession or receipt. This decision clarifies tax treatment for ongoing redevelopment projects in...
The Enforcement Directorate has provisionally attached 389 immovable properties worth ₹240.03 crore in a money laundering case linked to Bhasin Infotech and Infrastructure, Grand Venezia Commercial Towers, Satinder Singh Bhasin and others. The present market value of the attached properties is estimated to be over ₹700 crore. Source link...
The Supreme Court has given Parsvnath Developers one final week to pay homebuyers. Failure to deposit the full amount with 12 percent interest will result in imprisonment. The court expressed strong disapproval of the real estate firm and its directors. This order follows a 20-year struggle by senior citizens for their homes. The court warned that the company's directors would face jail time if...
Smartworks has expanded its engagement with L&T Technology Services by adding over 1,100 seats in Pune. The Pune expansion is expected to generate rental revenue of about ₹55 crore over 60 months. Source link...
The CBI filed its 17th charge sheet in the scam before the Special Court in Bengaluru against the builder for "alleged fraudulent activities" relating to a housing project situated in the city, they said. Source link...
West Bengal's new govt is expected to boost real estate activity significantly. Developers anticipate land reforms, including the repeal of a key act, to unlock development. Investment commitments exceeding ₹28,000 crore have already been secured by the state. Enhanced connectivity and swifter government approvals will further accelerate sector growth. Source link...
“Large-scale unauthorised constructions cannot be permitted to continue merely because similar illegalities have been committed by several persons,’’ the bench said, while directing Panvel Municipal Corporation (PMC) to order immediate demolition of an illegal enclosure of open-to-sky terraces and an 800 sq ft illegal room constructed in a Kalamboli building. Source link...
Mandatory energy performance ratings are set to be introduced for sizable commercial buildings over 20,000 square metres in India. This pivotal move aims to elevate energy efficiency within the burgeoning building industry, allowing the government to standardize evaluations and promote superior building designs. Consequently, consumers will have the opportunity to assess and compare energy efficiency...
The property is spread over a 1,038.50-sq-metre plot and is located near Amitabh Bachchan’s bungalow Jalsa. It is the directors’ second bungalow acquisition in Juhu in 2026. Source link...
The Income Tax investigation wing has detected undisclosed income worth Rs 50 crore. Surveys were conducted on five premises of Panache Realtors and Dayanand Modi Group. I-T teams are analyzing documents and digital data, including chats related to cash transactions. Partners of both real estate groups are currently being questioned by authorities. Tax evasion was allegedly found in Rosewood...