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2012 (8) TMI 416 - ITAT CHENNAIWhether upfront fee paid will fall within the definition of "rent" as given under Explanation to Section 194-I of the Act - upfront charges paid by the assessee for allotment of land as rent advance – Held that:- Definition of "rent" given under Explanation to Section 194-I of the Act will squarely cover the payment made by the assessee to M/s SIPCOT Ltd. and render such payment as something on which assessee was obliged to deduct tax at source. Interest under Section 201(1A) of the Act – Held that:- A.O. directed to calculate interest under Section 201(1A) of the Act, after considering the advance tax payment effected by M/s SIPCOT Ltd. and the time period involved in effecting such payment when compared to dates on which assessee was to deduct tax at source in accordance with Section 194-I of the Act - appeal filed by the assessee is dismissed
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