Real Estate players move Bombay High Court against new notification

By Accommodation Times Bureau MUMBAI The recent notification on GST has made the Real Estate Developers to move towards court against it. With the Bombay High Court (BHC) the developer have filed a writ petition for challenging the notification by the government on transferring rights of landowners to developers is taxable. According to

Bombay High Court confirms expulsion of defaulter members

By Accommodation Times News Services The Bombay High Court refused to entertain a petition challenging the expulsion of two members of Ganga Estate Co-operative Housing Society Ltd., Sion Trombay Road, Chembur Mumbai – 400071. Granting no relief, Justice D.K. Deshmukh disposed of the petition holding that the challenge to the impunged

TDR not to attract Capital Gain Tax : Bombay High Court

By Accommodation Times News Service Bombay High Court in the matter INCOME TAX APPEAL NO. 1356 OF 2012 , Commissioner of Income Tax -18 v/s Sambhaji Nagar Co­op. Hsg. Society Ltd. have observed that TDR generated under DCR by the society is not to be taxed under Capital Gain Tax. "...Thus, the conclusion of the Hon'ble Supreme Court is that an asset which is capable of acquisition at a cost would be included within the provisions pertaining to the head “Capital gains” as opposed to assets in the acquisition of which no cost at all can be conceived.  In the   present