01 Apr 2026

The Income Tax Appellate Tribunal (ITAT), Mumbai bench, ruled in favour of a taxpayer involved in a redevelopment project. The taxpayer surrendered tenancy rights and received a redeveloped flat valued at INR 11.7 crore. The Income Tax Department had considered this amount as taxable income from other sources and denied exemption under Section 54F. The tribunal observed that tenancy rights are a capital asset, and their exchange for the flat constituted a transfer of a capital asset, allowing the taxpayer to claim exemption. The decision provides clarity for similar redevelopment transactions.Read more

Mumbai News Desk

01 Apr 2026

The Bombay High Court has ruled that properties attached under the Prevention of Money Laundering Act (PMLA) cannot be claimed by banks as secured assets, establishing that anti-money laundering provisions take precedence over recovery laws such as SARFAESI and the RDB Act. The decision arose from a dispute involving banks seeking to enforce security interests on properties already attached by the Enforcement Directorate (ED) in connection with alleged proceeds of crime. The court set aside an earlier tribunal order that had favoured the banks, holding that the state's right to confiscate tainted assets overrides creditor claims. The ruling clarifies the legal hierarchy governing such disputes and has implications for lenders dealing with stressed assets linked to criminal investigations.Read more

Mumbai News Desk

01 Apr 2026

Two directors of Mumbai-based Ajanta Airawat Infrastructure LLP have been arrested by the Economic Offences Wing (EOW) for allegedly defrauding a non-resident Indian (NRI) investor of around INR 10.5 crore. The case relates to investments made over several years in a real estate project in Bhandup, Mumbai, where the complainant had initially invested INR 1.5 crore and later extended a loan of INR 6 crore. A subsequent settlement agreement promising repayment with interest or allocation of flats was not honoured. The accused have been remanded to judicial custody. The case highlights recurring risks in informal real estate financing arrangements and disputes linked to project-level obligations and investor protection.Read more

01 Apr 2026

MMRDA has achieved top rankings in Maharashtra's governance programs, highlighting its commitment to efficiency, transparency, and citizen-focused services. The authority was awarded first place in the 150 days Sevakarmi Plus Program and ranked fourth in the E-Governance Reform Program, with evaluations based on personnel development, service rule compliance, and innovative digital governance. The commendations were presented by Chief Minister Devendra Fadnavis to Dr. Sanjay Mukherjee. This recognition underscores the team's dedication, innovation, and leadership in shaping a more digitally connected and efficient Mumbai Metropolitan Region.Read more

Mumbai News Desk

01 Apr 2026

The Brihanmumbai Municipal Corporation (BMC) has launched a pilot to apply cool roof coating on selected municipal buildings in the G/South ward to reduce indoor heat as the city faces rising temperatures. The reflective Solar Reflective Paint contains additives like titanium dioxide that bounce sunlight off roofs, lowering heat absorption. The project targets buildings including schools and staff quarters, with initial results guiding potential citywide expansion. Similar technologies have been used in industrial structures and other Indian cities to effectively reduce rooftop temperatures.Read more

01 Apr 2026

The government has introduced a pilot to transfer compensation for highway land acquisition through Aadhaar linked biometric authentication, aiming to make payments direct, instant, and secure. This mechanism ensures landowners receive funds in their bank accounts after completing OTP and biometric verification, reducing chances of misdirection or delays. The pilot is underway in Bihar, Uttar Pradesh, Madhya Pradesh, Rajasthan, and Karnataka. In the current financial year, approximately INR 19,800 crore has been disbursed for acquiring 10,100 hectares of land. Earlier, payments were via cheques but later shifted to direct bank transfers.Read more

01 Apr 2026

The Karnataka government has announced plans to promulgate an ordinance to introduce the Karnataka Apartment Ownership and Management Act, 2025 (KAOMA), aimed at strengthening the legal framework governing apartment ownership and management. The move, discussed in the state assembly, is positioned to address long-pending demands from apartment residents and housing associations while supporting a shift towards vertical urban development in Bengaluru. The proposed law is expected to improve transparency, accountability, and governance across apartment complexes, benefiting a large base of residents. The ordinance will be issued after consultations with legislators and stakeholders, and forms part of a broader policy response to land constraints, increasing apartment density, and evolving urban housing patterns in the state.Read more

01 Apr 2026

The Mohali Municipal Corporation (MC) has decided to roll back a requirement mandating submission of house photographs for property tax payments following concerns raised by councillors and residents. The directive, which required front and rear images of properties, was reportedly discouraging tax compliance due to fears of regulatory scrutiny. The mayor indicated that the condition had contributed to a shortfall in tax collections, with the civic body missing its annual target by a notable margin. The rollback is expected to simplify compliance procedures, improve participation in the property tax system, and stabilise municipal revenues, which remain a key funding source for infrastructure and civic services in the expanding urban jurisdiction.Read more

01 Apr 2026

A report by the Comptroller and Auditor General (CAG) has highlighted significant gaps in the implementation of the Jal Jeevan Mission (JJM) in Karnataka, noting that around 34 per cent of rural households approximately 24.5 lakh homes remain without functional tap water connections. The audit, covering the period from 2019 to 2024 across selected districts, has pointed to deficiencies in planning, execution, and monitoring of water supply projects. It has also flagged issues such as delays, incomplete works, poor water quality oversight, and underutilisation of funds. The findings raise concerns over infrastructure delivery in rural areas and underline challenges in achieving universal household water connectivity under the central scheme.Read more

31 Mar 2026

The Hyderabad Disaster Response and Asset Protection Agency (HYDRAA) has conducted field inspections across parts of Sangareddy district in Telangana to examine complaints related to encroachments, irregular land transactions, and drainage issues. The review covered multiple residential layouts, including Anand Nagar and Beeramguda, where residents alleged illegal occupation of land earmarked for public use. Authorities also inspected a lake and drainage network following reports of flooding caused by blocked outlets. HYDRAA has stated that records will be verified and corrective action initiated where violations are established. The exercise reflects ongoing scrutiny of layout compliance, land-use changes, and infrastructure deficiencies in expanding peri-urban areas around Hyderabad.Read more