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2014 (1) TMI 1497 - AT - Income TaxLiability to deduct TDS u/s 194I of the Act - Whether the assessee is required to deduct tax at source from the payment of lease premium made to CIDCO during the years under consideration u/s 194I of the Act – Held that:- The decision in The ITO (TDS) 3 (5), Versus M/s. Wadhwa & Associates Realtors Pvt. Ltd. [2013 (9) TMI 261 - ITAT MUMBAI] followed - The payment to MMRD is also for additional built up are and also for granting free of FSI area, such payment cannot be equated to rent - payment for acquiring leasehold land is a capital expenditure - the lease premium paid by the assessee to MMRDA not being in the nature of rent as contemplated in section 194-I of the Act, the assessee was not liable to deduct tax at source from the said payment and hence could not be treated as the assessee in default u/s 201(1) & 201(1A) of the Act – Decided against Revenue.
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