Mumbai man pays ‘Zero Tax’ on ₹5 crore land sale despite filing ITR late; why ITAT still gave tax exemption
In a recent update, a ruling by the Mumbai bench of the Income Tax Appellate Tribunal (ITAT) has introduced big-time relief to taxpayers dealing with capital gains tax on property sales. Now this is a case that involves the sale of land costing around ₹5 crore. The tribunal ruled that a Mumbai man did not…