Selling a redeveloped flat within 2 years? You may face higher capital gains tax

In the said ruling, since the ITAT was dealing with a case relating to AY 2018-19 (or FY 2017 - 18), it did not examine provisions of section 45(5A) of the Income Tax Act, 1961 [corresponding Section 67(14) of Income Tax Act, 2025], which was introduced prospectively with effect from 1 April 2018.