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2014 (10) TMI 902 - AT - Income TaxTDS u/s 194I - non deduction of tds on lease premium paid to Pimpri Chinchwad New Township Development Authority (PCNTDA) - demand raised under section 201(1) and 201(1A) - Held that:- The lease premium was paid to PCNTDA by the assessee as a pre-condition for entering into a lease agreement, the same cannot be said to have been paid consequent to the lease agreement executed between the parties. Further, the CIT(A) has given a finding that stamp duty had been paid on the market value of the plot represented by the lease premium, which has not been controverted by the learned Departmental Representative for the Revenue. We uphold the order of CIT(A) in holding that the lease premium paid by the assessee is outside the purview of section 194I of the Act and the Assessing Officer was not justified in raising the demand under section 201(1) and 201(1A) of the Act. The grounds of appeal raised by the Revenue are thus, dismissed. - Decided in favour of assessee.
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