https://www.taxtmi.com/caselaws?id=793033 A notional value in an unimplemented redevelopment agreement does not constitute taxable income for a cooperative housing society where no consideration was received and no enforceable benefit accrued. The agreement was never acted upon: possession was not handed over, the building was not demolished, and no new construction or alternative development materialised. The amount mentioned in the agreement served only as a stamp duty and registration valuation, not as realised income. On these facts, the Tribunal held that the society could not be taxed merely because a redevelopment arrangement existed on paper, and the addition based on the agreement value was unsustainable. en-us Wed, 13 May 2026 00:00:00 +0530 Mon, 08 Jun 2026 08:52:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793033 A notional value in an unimplemented redevelopment agreement does not constitute taxable income for a cooperative housing society where no consideration was received and no enforceable benefit accrued. The agreement was never acted upon: possession was not handed over, the building was not demolished, and no new construction or alternative development materialised. The amount mentioned in the agreement served only as a stamp duty and registration valuation, not as realised income. On these facts, the Tribunal held that the society could not be taxed merely because a redevelopment arrangement existed on paper, and the addition based on the agreement value was unsustainable. Case-Laws Income Tax Wed, 13 May 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793033