Tenanted Property Redeveloped

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An Assessee was a tenant & was residing in a tenanted property, the said property has been redeveloped by a Builder and the said tenant has been allotted a Flat in the new building on Ownership basis.

Is the Assessee liable to pay any tax for the allotment of Flat against the tenanted property?

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Can anyone comment please!

Hello do anyone have any Idea?


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