Case Law Analysis
|Income Tax Appellate Tribunal
RERA Compensation for Delayed Possession Taxable as LTCG, Not Income from Other Sources : ITAT Delhi
ITAT Delhi rules that RERA-mandated compensation for delayed possession constitutes a transfer of capital asset, not interest income, and must be taxed as long-term capital gains. This precedent clarifies tax treatment for homebuyers receiving compensation under RERA, impacting real estate transactions and tax filings.