Mumbai ITAT Grants Relief in Property Tax Disputes Over Valuation and Expense Claims

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The Mumbai Income Tax Appellate Tribunal (ITAT) recently ruled in two separate cases offering relief to property taxpayers. In one case, ITAT held that a higher stamp-duty valuation alone cannot prove undisclosed investment without evidence of extra payment, overturning a ₹2.35 crore tax addition. In another, ITAT allowed a taxpayer to claim property-related expenses during reassessment despite missing them in the original return, directing the tax department to delete related additions. Both rulings emphasize evidence-based assessments in property taxation disputes.